Tuesday, May 1, 2007

Canada Dollar Reverses Gains as Dodge Says `Currency Higher Than Assumed'

(Bloomberg) -- Canada's dollar dropped from near an eight-month high after Bank of Canada Governor David Dodge said the currency was trading ``higher than was assumed.''

The Canadian dollar has gained about 4.4 percent this quarter on evidence of economic strength and commodity gains, which account for 54 percent of the nation's exports. The Canadian dollar rallied past the 90-cent level for the first time since September.


Read more at Bloomberg Currencies News

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