Canadian dollar sets record
The Canadian dollar hit a record value of $1.07 against the U.S. dollar Friday.
The loonie jumped 2 cents after a stronger-than-expected jobs report cut chances of another Fed interest-rate cut.
Already the world's best-performing major currency this year, the loonie rose as high as $1.0717 Friday from Thursday’s close of $1.0512.
The currency has soared 25 percent this year against the greenback -- and almost 7 percent in the past month.
The gains are most striking against the U.S. dollar. But, the loonie's also stronger against every single major world currency this year, including the euro, the yen and the Brazilian real, the Toronto Globe and Mail said.
The latest flight took place after a report showed the economy added 63,000 jobs, far more than expected, sending the jobless rate to a 33-year low. // Copyright 2007 by United Press International
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