Canadian dollar notches weekly gain as Wall Street rallies

By Reuters

The Canadian dollar strengthened against its U.S. counterpart on Friday as stock markets rose and domestic data showed the economy rebounding in August, leaving the currency slightly higher for the week. For the week, the currency advanced 0.2% even as the greenback notched sharp gains against a basket of major currencies. The Canadian dollar was helped on Friday by “a risk-on tone re-emerging in markets and also the slight improvement that we're seeing in oil prices,” said Kurt Reiman, senior investment strategist for North America at BlackRock.

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