Canadian Dollar Rises as Poloz Says Exports Must Be Sustained

The Canadian dollar rose the most in a week after the Bank of Canada noted a jump in exports even as it left its benchmark interest rate unchanged, saying foreign trade must be sustained to trigger broader economic growth.

The currency appreciated against most of its major peers after Bank of Canada Governor Stephen Poloz reiterated the central bank’s neutral outlook on the next move in interest rates. The central bank is counting on export growth to spur domestic business investments and economic growth as the over-indebted consumers who led the country out of recession pare back spending.