Canadian Dollar Hits Four-Week High as Rate-Rise Prospect Supports Outlook
The Canadian dollar rose to a four-week high against the U.S. dollar. MUFG Bank’s Lee Hardman said it could strengthen further as the Bank of Canada moves closer to raising rates, with an Oct. 28 decision in prospect.
The Canadian dollar has climbed to a four-week high against the U.S. dollar and may advance further if the Bank of Canada raises interest rates on Oct. 28, MUFG Bank's Lee Hardman says in a note. The BOC has recently indicated that it is getting closer to raising rates.
However, tightening…