Canadian Dollar Gains Versus Major Peers on Employment Increases

The Canadian dollar rose versus the majority of its 16 most-traded peers after employment gains in Canada and the U.S. exceeded forecasts, boosting investor risk appetite.

The Canadian currency gained against its U.S. counterpart for a second day as both countries reported unemployment rates at four-year lows. The so-called loonie fell earlier this week after the Bank of Canada softened language about tighter monetary policy and said it won’t raise interest rates anytime soon with inflation slowing more than projected.