Canadian Dollar Rises Most This Month on Stimulus Speculation
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Canada’s dollar rose from the lowest level in two weeks and posted the biggest one-day gain this month on speculation central banks will consider increasing monetary stimulus to spur growth, boosting higher-risk assets.
The currency fell earlier to the lowest since July 12 on concern Europe’s debt crisis is worsening. European Central Bank council member Ewald Nowotny said there were arguments favoring giving the region’s rescue fund a banking license. Stocks and crude oil, traditional drivers for the currency, gained.