Canadian Dollar Hits Five-Week High as Rate-Hike Bets Gain Support
The loonie strengthened against the U.S. dollar as rising oil prices and domestic retail sales data supported expectations of a Bank of Canada rate hike next week.
By Fergal SmithThe Canadian dollar strengthened to a five-week high against its US counterpart on Friday as oil prices rose and domestic retail sales data supported expectations the Bank of Canada would raise interest rates next week.The loonie FX_IDC:USDCAD was trading 0.1% higher at 1.40 per US d…