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Canada’s dollar strengthens as stocks, commodities advance

Posted on 15 October 2008

From Bloomberg: Canada’s currency strengthened for a second day, its longest winning streak in more than two weeks, as global stock markets rose and prices for commodities such as crude oil advanced.

“When we see more up days in equity markets, it tends to equate to risk appetite, and by extension, a bid for commodity markets and commodity-market currencies,” said Jack Spitz, a managing director of foreign exchange at National Bank of Canada in Toronto. “That equates to a stronger” Canadian currency…… Full Article: Source


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