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Canada Dollar Rises to 4-Week High on Rate-Increase Speculation

The Canadian dollar touched its highest point in four weeks against its U.S. peer as signs of growth in the North American economy boosted bets the Bank of Canada will raise interest rates earlier than expected.

The currency strengthened for the fifth time in six days against the greenback as retail sales in the U.S., Canada’s biggest export market, rose more than forecast in May. Canada posted its strongest job gains in more than a decade last month and home construction rose the most in 13 months, driving expectations to the highest in more than a year the central bank will raise rates. Stocks and oil, Canada’s largest export, climbed.