Canadian dollar retakes key level as oil prices soar

April 8, 2016 2:58 PM

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The Canadian dollar strengthened against its U.S. rival Friday as renewed optimism about the prospects for global economic growth sent oil prices soaring.

The U.S. dollar retreated below the key C$1.30 level for the first time in a week, with one dollar buying C$1.2982 in recent trade. By comparison, it bought C$1.3143 late Thursday in New York. Robust data on housing starts and the Canadian labor market also helped support the currency by giving the ...

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