Economics
Canada Dollar Strengthens as Earnings Buoy Assets Tied to Growth
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Canada’s dollar gained for a second day versus its U.S. counterpart as equities advanced amid demand for assets related to global economic growth.
The loonie, as the currency is nicknamed, strengthened as about 79 percent of companies in the Standard & Poor’s 500 Index that released earnings since April 11 have exceeded analyst estimates for per-share profit, compared with 72 percent in the previous quarter, according to data compiled by Bloomberg. The Canadian dollar and the U.S. currency weakened against most of their major peers.