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Canadian Currency Gains to Strongest Since 2008 on Commodities

Canada’s dollar reached its strongest level in 2 1/2 years versus the greenback, capping a second straight annual advance, as oil at a 26-month high burnished the allure of currencies tied to global growth.

The Canadian currency gained for a second week and for the month. It rose 5.5 percent versus its U.S. counterpart in 2010, after a 16 percent gain in 2009. The greenback fell against most major counterparts for the year and month as investors sought higher-yielding assets. Canada’s employers added jobs in December for a third month, a report next week may show.