Canada Dollar Reaches Highest Since October After Fed Statement
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Canada’s dollar gained to the strongest in almost three months after U.S. policy makers said their key interest rate will stay at almost zero until at least late 2014, boosting the attraction of Canada’s 1 percent rate.
The currency fell earlier as speculation that Europe may be unable to contain its sovereign-debt crisis damped demand for riskier assets. Commodities including crude oil, Canada’s biggest export, climbed after the Federal Reserve’s statement.