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Canadian Dollar Strengthens Amid M&A Activity Boost Bets

From bloomberg.com

Canada’s dollar gained the most in six months as its U.S. counterpart weakened and traders speculated that the acquisition of coffee-shop chain Tim Hortons Inc. will increase demand for the local currency. The loonie, as it is referred to because of the image of the waterfowl on the C$1 coin, was the biggest gainer among major currencies against the greenback. The Bloomberg Dollar Spot Index, which tracks the U.S. currency versus 10 leading global peers, fell after rising yesterday to the highest level since Feb. 3. “We’re in a dynamic where the Canadian dollar should do well from the U.S. recovery and the U.S. ... (full story)

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  • Category: Low Impact Breaking News