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The Canadian dollar stood near its strongest level against the U.S. dollar in nearly three years as oil rallied and the greenback broadly lost ground.
The loonie was trading nearly unchanged at 1.2606 to the greenback, or 79.33 U.S. cents, having touched its strongest intraday level since April 2018 at 1.2580.
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“Commodity-linked currencies have had a stellar performance in recent days thanks to widespread and sharp gains in the prices of a wide variety of commodities,” said Erik Nelson, a currency strategist at Wells Fargo.
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