Canadian Dollar Rises to 30-Year High as Retail Sales Suggest Rate Boost

(Bloomberg) --The Canadian dollar rose to a 30-year
high after a report showed May retail sales rose at the fastest
pace in almost a decade, bolstering speculation the central bank
will increase interest rates.

The currency was the best performer today against the U.S.
dollar among the 16 mostly actively traded currencies. It rose
to 96.34 U.S. cents at 11:07 a.m. in Toronto from 95.52 U.S.
cents yesterday, reaching the highest since February 1977. One
U.S. dollar buys C$1.0375.


Read more at Bloomberg Currencies News