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Loonie Firms As Gain in Stocks, Commodities Buoys Demand for Risk: report

The Canadian dollar advanced against the majority of its most-traded counterparts as a boost in global equities and commodities encouraged demand for higher-yielding assets, according to Bloomberg.

Bloomberg said the loonie climbed for a second day against its U.S. counterpart before a report tomorrow forecast by economists to show Canadian retail sales rose the most since November.

The loonie reportedly appreciated 0.4% to 98.58 cents per U.S. dollar at 8:30 a.m. in Toronto, from 99.01 on Aug. 19.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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