Canada Dollar Advances as Fed Maintains Asset-Purchase Program
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The Canadian dollar gained against its U.S. peer for the first time in three days after the Federal Reserve maintained stimulus measures, bolstering growth expectations in the nation’s biggest trading partner.
Canada’s currency fluctuated earlier as commodities rose and European policy makers weighed how far to push Cyprus after the island nation rejected an unprecedented levy on bank deposits, jeopardizing a financial bailout. The so-called loonie advanced against the majority of its 16 most-traded peers before a report tomorrow forecast to show Canada’s retail sales increased in January after contracting the prior month.