This translation has been automatically generated and has not been verified for accuracy.The Canadian dollar strengthened to a near three-month high against the greenback on Monday as optimism on the reopening of economies supported risk appetite and ahead of an interest rate decision this week by the Bank of Canada.
The price of oil , one of Canada’s major exports, fell but held near its highest since March as investors weighed reports that OPEC and Russia were closer to a deal on extending oil cuts. U.S. crude prices were down 1.3 per cent at $35.03 a barrel.The Canadian dollar was trading 0.3 per cent higher at 1.3724 to the greenback, or 72.87 U.S. cents. The currency touched its strongest intraday level since March 10 at 1.3674.
A Bank of Canada interest rate decision is due on Wednesday, when Tiff Macklem will take over as governor. The central bank will hold interest rates at a record low of 0.25 per cent until at least the end of next year, a Reuters poll showed.
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