Canadian Dollar Snaps Five-Day Losing Skid as Hurricane Lands

Canada’s dollar strengthened against its U.S. peer, ending a five-day losing streak, after manufacturers’ prices rose for the first time since April as Hurricane Sandy slammed into the Eastern U.S.

The currency, which traded below parity yesterday for the first time in more than two months, strengthened as U.S. stock and bond markets remained closed for a second day due to the storm’s arrival. Trading is scheduled to reopen tomorrow. Canada’s dollar gained along with global stocks and oil on increased appetite for risk.