The Canadian dollar gained for the fifth consecutive session against its US peer, reaching the highest level in more than three years, as the employment in the US, the biggest trading partner of Canada, improved and crude oil, the main nation’s export, advanced.
The contract for delivery of crude oil in May gained as much as 1.6 percent to $108.47 per barrel in New York, the highest since September 2008, on the forecast that the economy of China, the largest energy consumer in the world, will continue to expand. The Thomson Reuters/Jefferies CRB Index of raw materials went up 0.4 percent. The Standard & Poorâs 500 Index rose 0.5 percent and the MSCI World Index gained 0.5 percent.
The yield on the benchmark 10-year note rose two basis points to 3.37 percent. The loonie appreciated 2.8 percent over the past three months, posting its third consecutive quarterly gain.
USD/CAD closed at 0.9629 after opening at 0.9704, while EUR/CAD closed at 1.3706 after it opened at 1.3739 and fell as low as 1.3590.
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