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Canadian dollar hits 3-week high, on track to bolster April winning streak

Published 2019-04-09, 09:26 a/m
© Reuters.  Canadian dollar hits 3-week high, on track to bolster April winning streak
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* Canadian dollar rises 0.2% against the greenback

* Loonie touches its strongest since March 21 at 1.3285

* Currency is up 0.4% since the start of the month

* Canadian bond prices edge higher across the yield curve

TORONTO, April 9 (Reuters) - The Canadian dollar strengthened to its highest in nearly three weeks against its U.S. counterpart on Tuesday and was on track to add to its winning streak in April, as oil held near a five-month high and the greenback broadly declined.

At 8:59 a.m. (1259 GMT), the Canadian dollar CAD=D4 was trading 0.2% higher at 1.3291 to the greenback, or 75.24 U.S. cents.

The currency touched its strongest level since March 21 at 1.3285 even as trade concerns resurfaced, weighing on U.S. and European stocks. April so far, the loonie is up 0.4 percent. The currency has ended higher on the month in 11 of the last 13 years, a sequence strategists link to seasonal vitality in stocks and energy products. price of oil, one of Canada's major exports, climbed to its highest since November before turning flat. Concern that violence in Libya could further tighten supply was offset by Russian comments signaling willingness to pump more.

U.S. crude oil futures CLc1 were unchanged at $64.40 a barrel, while the U.S. dollar .DXY declined for a second straight day against a basket of major currencies. government bond prices were higher across the yield curve in sympathy with U.S. Treasuries. The two-year CA2YT=RR rose 1.5 Canadian cents to yield 1.608% and the 10-year CA10YT=RR was up 12 Canadian cents to yield 1.721%.

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