Canada Dollar Gains Versus Majors as Oil Rises to 1-Month High
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The Canadian dollar gained against the majority of its 16 most-traded peers as crude oil, the nation’s largest export, touched a one-month high after Cyprus agreed with creditors on a bailout.
Canada’s dollar pared gains against its U.S. counterpart after the Dutch finance minister said imposing losses on depositors and bondholders must be part of the bailout toolkit after such measures were taken to avoid default in Cyprus. Canada will report March 28 the economy grew 0.1 percent in January after contracting the month before, according to a Bloomberg survey.