The Canadian dollar also benefited from the EU-brokered rescue plan for the euro on the weekend. The dollar opened North American trading Monday at 97.62 cents US, up 1.82 cents from Friday’s close after falling to as low as 93.02 cents in hectic trading on Thursday.
The increase in the loonie can be attributed to a sharp increase in oil prices and an expected increase in demand for commodities for which Canada is a leading exporter.
Source: The Canadian Press