Gold, Oil Force Canadian Dollar Up

The Canadian dollar continued to trade high maintaining yesterday’s gains versus the U.S. dollar as gold reached a record high, raising attractiveness for Canadian commodities. The loonie, as the Canadian dollar is often referred to, continued to trade near a four week high versus its U.S. counterpart as the oil, one of the main Canadian exports to the U.S. climbed beyond $80 a barrel, in a day that U.S. posted weak construction industry data.
USD/CAD traded at 1.0526 as of 17:28 GMT from yesterday’s rate of 1.0595.