(Bloomberg) -- Canada's dollar rose, approaching a seven-month high, after a Norwegian company purchased a local oil company.
The currency is headed for its straight sixth weekly gain after Statoil ASA, Norway's biggest oil company, agreed to buy North American Oil Sands Corp., an Alberta-based oil-sands developer, for $2 billion. Higher prices of commodities have made Canadian resource-based companies attractive.
Read more at Bloomberg Currencies News
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