Canadian Dollar Advances in June on Europe Debt-Crisis Optimism
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Canada’s dollar rose this month against its U.S. counterpart as optimism Europe is closer to resolving its debt crisis spurred demand for riskier assets.
The currency had the biggest advance since November yesterday after European leaders agreed to relax conditions for emergency loans to Spanish banks. Stocks gained on the month and volatility fell the most since January, lifting the Canadian dollar. The nation’s employers added jobs in June for a fourth straight month, economists forecast before the July 7 report.