Canadian Dollar Rises as China Growth Fuels Commodities Optimism
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Canada’s dollar gained for the second straight week versus its U.S peer as traders speculated faster growth in China would translate into more demand for the nation’s commodity exports.
The currency pared gains yesterday after a report showed Canada’s trade deficit widened to the fourth-largest on record in November as shipments to Europe fell. China posted exports five times higher than economists forecast and reported inflation quickened as its economy grew faster than expected.