By Fergal Smith TORONTO (Reuters) - The Canadian dollar strengthened against its U.S. counterpart on Monday, adding to its recovery from a five-month ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Fergal Smith
The loonie was trading 0.4% higher at 1.3580 to the greenback, or 73.64 U.S. cents, after moving in a range of 1.3562 to 1.3639. On Thursday, the currency hit its weakest intraday level since March 28 at 1.3694. The U.S. dollar gave back some recent gains against a basket of major currencies and Wall Street rallied as investors awaited U.S. inflation data on Wednesday.
The move higher for the loonie follows stronger-than-expected domestic jobs data on Friday that kept alive prospects of another interest rate hike by the Bank of Canada.
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