The Canadian dollar strengthened to a two-week high against its U.S. counterpart on Thursday along with gains for other commodity-linked currencies as investors cheered progress toward passing a U.S. debt ceiling bill.
The loonie was trading 0.9% higher at 1.3445 to the greenback, or 74.38 U.S. cents, after touching its strongest intraday level since May 16 at 1.3434.
"That suggest it's a risk-on recovery, likely fueled by optimism on the debt deal passing the House of Representatives so quickly and now ready for the Senate approval," said Amo Sahota, director at Klarity FX in San Francisco.
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