Canadian Dollar Rises as Central Bank Says Policy Appropriate

The Canadian dollar strengthened for a second day as optimism about faster global economic growth fueled demand for riskier assets and Canada’s central bank kept its main interest rate unchanged.

The currency rose against the majority of its most-traded peers earlier as data showed gross domestic product growth quickened in Australia and China. All 22 economists surveyed by Bloomberg forecast no change at 1 percent by the Bank of Canada. The Bank of Canada retained language from its last statement saying its next move on interest rates would be to raise them.