Canadian Dollar Wins Versus US Dollar for a Third Week

Canadian Dollar Wins Versus US Dollar for a Third Week

Canada?s dollar headed toward its third straight weekly increase against its U.S. counterpart as crude oil, the nation?s largest export, rose above $113 a barrel for the first time since 2008.

Canada?s currency pared gains after a government report showed the economy unexpectedly lost jobs for the first time in six months in March. Oil rose as a fire burned at Libya?s Sarir field, bolstering concern that unrest in the region will further reduce supply. The U.S. dollar weakened against 15 of its 16 most-traded peers. Global stocks gained.

Source: Canadian Dollar Wins Versus US Dollar for a Third Week