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Canadian Dollar Leads Major Currencies as Economy Stands Tall
The Canadian Dollar outperformed other major currencies on Wednesday and remained leader of the pack for 2021 after Statistics Canada data showed the economy gaining momentum in January despite a second wave of coronavirus infections and associated restrictions on activity. Canadian GDP rose by 0.7% in the opening month of the year, up from 0.1% in the closing quarter of 2020 and ahead of a consensus that had looked for a 0.5% increase, with coronavirus-related losses in retail, accommodation and food services more than offset by gains elsewhere. What's more Statistics Canada said the economy likely grew by a further ... (full story)