TORONTO, Oct 6 - The Canadian dollar rallied against its U.S. counterpart on Friday, clawing back some of its weekly decline, as stronger-than-expected domestic jobs data boosted expectations for further interest rate hikes by the Bank of Canada.
"With today's report, higher for longer from the Bank of Canada looks reasonable," said Michael Greenberg, a portfolio manager at Franklin Templeton Investment Solutions. U.S. job growth also surged in September but the greenback was unable to sustain its earlier gains against a basket of major currencies.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: