Canada Dollar Touches Highest in Week on China Economic Reforms

The Canadian dollar rose to the strongest level in more than a week as the outlook for the nation’s commodity exports improved with China’s pledge to expand economic freedoms.

The currency reached its high of the day against the U.S. dollar after a report showed total foreign investment in Canadian securities increased to the highest level in five months. Risk appetite gained after China’s leaders vowed to allow more private investment in state-controlled industries and expand farmers’ land rights as part of the biggest package of economic reforms since the 1990s.

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