Loonie Rises Most Since May as Yields Jump on Strong Jobs Data
Canadian one dollar coins, known as Loonies, at the Royal Canadian Mint Ltd.
Photographer: Shannon VanRaes/BloombergThe Canadian dollar rose the most since May and yields on the nation’s debt jumped as surprisingly strong employment data triggered bets that the Bank of Canada will raise interest rates next year.
The yield on Canadian five-year debt climbed to the highest since August as the job figures fueled speculation the central bank will forgo additional rate cuts and even shift to hikes next year. The loonie reached the strongest since September and last traded at C$1.3836 per US dollar.