Canadian Dollar Advances as Stocks, Oil Rise on Demand for Risk
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Canada’s dollar rose from the lowest level in a week as stocks and commodities gained, boosting demand for higher-yielding assets.
The loonie, as Canada’s currency is known for the image of the water bird on the C$1 coin, erased a gain earlier after the inflation rate in May was the slowest since June 2010, supporting the central bank’s projection for modest output and price gains. The Canadian dollar rose against most of its major counterparts.