Canadian dollar soars, reacting to hawkish major bank comments

Canadian dollar soars, reacting to hawkish major bank comments

On Tuesday, the Canadian dollar went up to its highest level in almost two months, buoyed by hawkish comments from Canada's major financial institution, while worries regarding UK political uncertainty suppressed the British pound.

At one point, Canada’s currency demonstrated its best outcome since April 17, hitting C$1.3274 per greenback, extending revenues after soaring more than 1% on Monday. The Canadian dollar last traded at C$1.3293, tacking on approximately 0.2% on the day.

On Monday, Bank of Canada Senior Deputy Governor Carolyn Wilkins told that first-quarter surge turned to be impressive enough and the signs that economic growth was extending would lead the major bank to consider whether current low interest rates would still be actual.

The British pound dropped 0.1%, hitting $1.2653, having lost 2.3% two days ago.

Against the Japanese yen, the evergreen buck was intact, keeping to 109.97. As for the common currency, it dropped 0.1%, being worth $1.1193.

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