(Bloomberg) -- Canada's dollar rose against the
dollar for a fourth day, reaching a 30-year high, as investors
anticipated a Bank of Canada rate increase tomorrow and the U.S.
currency weakened against most of its major counterparts.
The currency's rally is its longest since April. The
central bank will lift the overnight rate by a quarter-
percentage point to 4.5 percent, according to 28 of 29
economists surveyed by Bloomberg. Policy makers on May 29 said
rate increases may be needed ``in the near term,'' citing
``excess demand'' in the world's eighth-biggest economy.
Read more at Bloomberg Currencies News
dollar for a fourth day, reaching a 30-year high, as investors
anticipated a Bank of Canada rate increase tomorrow and the U.S.
currency weakened against most of its major counterparts.
The currency's rally is its longest since April. The
central bank will lift the overnight rate by a quarter-
percentage point to 4.5 percent, according to 28 of 29
economists surveyed by Bloomberg. Policy makers on May 29 said
rate increases may be needed ``in the near term,'' citing
``excess demand'' in the world's eighth-biggest economy.
Read more at Bloomberg Currencies News
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