Canadian Dollar Rises After Trudeau Election Victory

The Canadian dollar strengthened Tuesday after Canadians voted to elect Liberal Party leader Justin Trudeau as the country's new prime minister. The nation-wide vote, held on Monday, led to the ouster of Stephen Harper, who was running for what would have been his fourth term as prime minister. The Canadian dollar strengthened by 0.3% to 77.04 U.S. cents, paring a decline from Monday's session. It traded at 76.79 late Monday in New York. The yield on the Canadian 10-year sovereign bond rose 6.1 basis points to 1.52%, according to FactSet data.