Canadian Dollar Gains Versus Euro on Oil, Portugal Downgrade
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Canada’s dollar strengthened against the euro on an advance in crude oil prices and after Moody’s Investors Service cut Portugal’s long-term government bond ratings to junk.
The loonie, as the currency is also known, rose against 13 of its 16 most-traded peers as crude, Canada’s largest export climbed above $97 a barrel. The euro fell against most major peers on concern the European sovereign debt crisis is deepening.