Economics
Canadian Dollar Approaches One-Week High as Risk Appetite Rises
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Canada’s dollar approached the strongest level in more than a week versus its U.S. counterpart as crude oil, the nation’s biggest export, and stocks rose amid a jump in risk appetite.
The Canadian currency dropped yesterday versus the greenback as investors sought safety amid concern political turmoil in Europe would intensify the region’s debt crisis. Appetite for higher-yielding assets increased today after a gauge of European services shrank less than first estimated.