Loonie climbs as greenback falters
Debt-ceiling negations push Canadian dollar up
The Canadian dollar hit a three-year high Tuesday, climbing over 106 cents U.S. as worries over debt ceiling negotiations continued to plague the greenback. U.S. Lawmakers have so far failed to reach a deal to extend that country’s $14.3 trillion debt limit. They have until August 2 to come up with an agreement or the U.S. may default on loan obligations. The loonie reached 106.24 cents US, up 0.51 of a cent, in early trading Tuesday, it’s highest level since November 2007.
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