Canadian dollar reaches three-week high against US dollar
The loonie hit a three-week high as Middle East peace hopes boosted markets. Lower U.S. producer prices and Mark Carney's majority win also lifted the currency.
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The currency of Canada reached a three-week high against its United States counterpart on Tuesday, as optimism regarding a diplomatic solution to Middle East tensions bolstered equity markets and weighed on the greenback. The USD/CAD pair was trading 0.2% higher at 1.3760, or 72.67 U.S. cents, after touching its strongest intraday level since March 24 at 1.3732. Negotiators from the U.S. and Iran could return to Pakistan this week to resume talks to end the conflict, sources told Reuters.
"The market is in an upbeat mood," said Amo Sahota, director at Klarity FX in San Francisco.
