Canadian dollar rose for a fourth day as an increase in stocks and commodities such as crude oil gold and copper reduced the demand for U.S. currency, so the funds relating to economic growth more attractive.
The Canadian dollar extended this month increased to 2 percent against the U.S. dollar has fallen against all of its partners, except the yen. The dollars of Australia and New Zealand topped the Canadian dollar today after China refrained from increasing borrowing costs.
"China does not raise rates this weekend, people could breathe a little sigh of relief and put a bit of risk again," wrote Brian Kim, currency strategist at UBS in Stamford, Connecticut, via email mail. "If the U.S. session shifts the momentum of Europe, we see the Canadian dollar pushing higher."
The Canadian currency appreciated 0.2 percent to C $ 1.0068 per U.S. dollar at 7:59 am in Toronto, from $ 1.0091 on 10 December. One Canadian dollar buys 99.33 U.S. cents.
Consumer prices in China rose more than expected in November, rising 5.1 percent over the previous year, statistics showed over the weekend.
China's central bank refrained from raising borrowing costs, as some analysts had expected. China ordered lenders place to park more money with the central bank to counter the threat of inflation.
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