The Canadian dollar advanced against the US currency and weakened against the euro as the situation in Europe showed signs of improvement, boosting attractiveness of commodity currencies.
The positive news from Europe were well received by market, helping
The story of the European debt is far from over, though, and it’s nearly impossible to predict how market participants will behave next week. Yes, Italy agreed to implement the austerity measures. Yes, Greece almost got new leader. But that doesn’t mean that all the problems would disappear overnight and market mood may shift in any direction according to news or even speculations.
USD/CAD closed at 1.0099 after opening at 1.0169 and rising to 1.0230. EUR/CAD closed at 1.3887, higher than opening rate of 1.3838, while the intraday high was 1.3957.
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