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A Canadian dollar coin, commonly known as the "Loonie," is pictured in this illustration picture taken in Toronto, January 23, 2015. REUTERS/Mark Blinch/File Photo Canadian dollar gains 0.1% against the greenback Touches its strongest since September at 1.3140 Price of U.S. oil settles 4.2% lower Canadian bond yields rise across flatter curve TORONTO, June 22 (Reuters) – The Canadian dollar edged higher against its U.S. counterpart on Thursday, with the currency adding to its recent gains despite a sharp decline in oil prices and moves by global central banks to raise interest rates. The loonie was trading 0.1% higher at 1.3150 to the greenback, or 76.05 U.S. cents, after touching its strongest intraday level since September at 1.3140. It was the only G10 currency to gain ground against the U.S. dollar as Fed Chair Jerome Powell backed more U.S. rate increases and a spate of rate hikes by several central banks, including the Bank of England, fueled worries about global growth. Advertisement · Scroll to continue It follows moves earlier this month by the Reserve Bank of Australia and the Bank of Canada to also tighten policy. "The Bank of Canada’s hawkish stance no longer looks quite so idiosyncratic […]
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