(Bloomberg) -- The Canadian dollar rose to the
strongest in 30 years as the nation's central bank said
inflation will remain above its target, and as crude oil rose to
an 11-month high.
The currency gained a fourth straight week versus its U.S.
counterpart after the Bank of Canada increased the benchmark
overnight rate for the first time in more than a year. The
central bank also said inflation will peak at 3 percent in the
fourth quarter and will take a half-year longer than expected to
slow to the 2 percent target.
Read more at Bloomberg Currencies News
strongest in 30 years as the nation's central bank said
inflation will remain above its target, and as crude oil rose to
an 11-month high.
The currency gained a fourth straight week versus its U.S.
counterpart after the Bank of Canada increased the benchmark
overnight rate for the first time in more than a year. The
central bank also said inflation will peak at 3 percent in the
fourth quarter and will take a half-year longer than expected to
slow to the 2 percent target.
Read more at Bloomberg Currencies News
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