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Higher Oil Prices and Positive Economic Data May Push Loonie Past 80-Cent Mark: Analyst

Posted July 05, 2017

Under Economic Issues, International Trade Issues

(Financial Post)

The Canadian dollar climbed higher on Tuesday, boosted by central bank governor Stephen Poloz’s latest hints about an interest rate hike.

The loonie was trading at 77.37 cents U.S. on Tuesday, 0.26 of a U.S. cent higher from 77.06 cents U.S. on Friday. The currency last traded above 77 cents in February.

The latest bump in the loonie came after Bank of Canada governor Stephen Poloz reiterated hawkish comments about interest rates in an interview with German newspaper Handelsblatt. Click here to read more.

Related: Bank Governor May Be About to Break Our Credit Addiction (Toronto Star)