Economics
Canada Dollar Rises to Strongest in 3 Months on Growth Prospects
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Canada’s dollar climbed to the highest level since May versus its U.S. counterpart, trading stronger than parity for a ninth day, amid speculation North American economic growth will sustain the nation’s exports.
The currency has gained versus the majority of its 16 most-traded peers this month after jobs and retail sales in the U.S., Canada’s biggest trade partner, rose more than forecast in July. The euro has slid, reaching a record low today against Canada’s dollar, amid concern European leaders are struggling to resolve their debt crisis. American industrial production exceeded estimates last month, data showed today.