Conjecture about European leaders moving closer to reining in the sovereign debt crisis and the damages it causes also pushed up the loonie on Monday as it continues a bullish run. The loonie pushed up 0.2 percent last week against the U.S. dollar and is aiming for a sixth straight week of gains against the world's reserve currency.
"The Canadian dollar really hasn't reacted that much to it," foreign exchange trading director David Bradley with Scotiabank told Reuters. "Despite softness in the euro there's still plenty of sellers around in the Canadian dollar."
The Canadian dollar drove to its highest value in three months against its southerly rival after retail sales and industrial production data were higher than forecast.
The loonie is likely to be impacted by a speaking engagement this week of Governor Mark Carney with the Bank of Canada, according to Reuters.
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