Canadian Dollar Rallies With Commodities as Risk Appetite Rises
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The Canadian dollar advanced for the first time in three days against its U.S. counterpart as commodities rallied on positive risk sentiment and Canada’s trade deficit narrowed.
The loonie, as the currency is nicknamed for the image of the waterfowl on the C$1 coin, amid speculation Europe’s debt crisis will ease. lessening the haven appeal of the world’s reserve currency. Government bonds declined as applications for U.S. jobless benefits dropped.