The Canadian dollar shot to a 33-year high against a broadly weaker U.S. dollar on Thursday, as oil and gold prices firmed, giving the commodities-based currency a boost.
Domestic bonds rose after some weaker-than-expected U.S. economic data, and ahead of a report on U.S. new-home sales, which could provide give more clues as to the U.S. Federal Reserve's direction for monetary policy when it meets next week.
At 9:17 a.m. (1317 GMT), the Canadian dollar was at 96.50 Canadian cents to the U.S. dollar, or US$1.0363, up from Wednesday's close of 96.91 Canadian cents to the U.S. dollar, or US$1.0318.
The Canadian dollar touched US$1.0403 shortly after the release of U.S. durable goods data, which came in much weaker than expectations. It was the highest level for the Canadian dollar since May 1974.
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