Thursday, April 26, 2007

Canadian Dollar Gains On Majors, Thursday, April 26, 2007 10:18:34 AM

The Canadian dollar strengthened against the major currencies on Thursday in New York. The loonie reached a five-month high against the sterling and remained stable near a two-month best against the euro. The loonie also advanced off of a multi-month low versus the dollar.

The Canadian dollar climbed off of a seven-month low against the greenback on Thursday during morning trading in New York. At around 3 p.m. Wednesday, the loonie hit 1.1134, its lowest level since early September. The Canadian dollar began to climb at around 4 a.m. ET and reached as high as 1.1215 at 7:45 a.m.

The loonie was range-bound with the euro near a two-month high. The Canadian dollar tested its highest level since late February on Wednesday afternoon and has remained stable near that mark. The loonie reached a daily high of 1.5198 at 4 a.m. It briefly slipped at around 8 a.m. but quickly recovered those losses within a half hour.

The Canadian dollar climbed to a five-month high against the British pound on Thursday. The loonie dropped rising at about 3 a.m. Eastern Time and continued to climb until after 9 a.m. At 9:15 a.m., the loonie got as high as 2.2254. This is its best mark of 2007.
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