Sure, the Canadian currency has been climbing for most of this year, helped by strong merger and acquisition inflows, strong commodity prices and the underlying strength of the Canadian economy. Apart from strong growth in the Canadian economy that helped the loonie to benefit as a high-yielding currency, it was lifted by a steady inflow of funds from merger and acquisitions as the steady rise in energy prices made investment in Canada’s energy industry an attractive prospect. Over the last few days, another rally in crude oil prices, as Hurricane Felix appeared a threat to oil installations in the Gulf of Mexico, also helped to underpin the Canadian currency. Despite the inflows that have characterized most of this year, this week has brought a reversal with the Canadian Pension Plan Investment Board announcing that it will bid for a 49% stake in Auckland International Airport. read more
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