Forex
Loonie Hits Eight-Year High on Strong Jobs Report
The Canadian dollar has strengthened against its US counterpart, reaching an eight-year high. This comes after Statistics Canada reported that the country added 75,000 jobs in July, bringing unemployment down to a two-year low of 6.4 percent.
The loonie's value rose to $0.7161, or $1=C$1.3965 as of 8:37 a.m. CDT on Friday, compared to Thursday's close of $0.7134 or $1=C$1.4018.
The TSX/S&P Composite Index also saw significant gains, jumping 205.57 points to 36,341.88.