The Canadian dollar traded at the highest level this week after one of the most relevant investment banking corporations in the world suggested that the loonie is likely to gain versus its U.S. counterpart in the short term.
Goldman Sachs Group Inc. stated through a note today that the Canadian dollar profile extremely related to crude oil rates is likely to be more attractive then its U.S. counterpart, according to the investment bank, as is not likely to provide support for investors to bet on greenback positions, hence the forecast rally for the Canadian currency that traded at the highest level this week today.
USD/CAD traded at 1.0881 as of 17:53 GMT from a previous rate of 1.1027 in the intraday comparison.
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