Canadian Dollar Rises After Bank Of Canada Raises Interest Rates

By Ryan VlastelicaMarketsMarketWatch Pulse

The Canadian dollar rose against the U.S. dollar on Wednesday, after the Bank of Canada raised interest rates, as had been expected. Against the Canadian dollar , the U.S. dollar bought C$1.2851, compared with C$1.2940 prior to the announcement. It ended late Tuesday at C$1.2917. Separately, the iShares MSCI Canada ETF , an exchange-traded fund that is one of the most popular ways for investors to get exposure to the Canadian equity market, rose 1.7%, extending its rise on the day following the announcement.

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