Canadian dollar holds near 2-month high as Wall Street rebounds

TORONTO: The Canadian dollar edged higher against its U.S. counterpart on Thursday, approaching a two-month peak, as equity markets climbed and domestic attention shifted to an upcoming speech by a senior Bank of Canada policymaker.

Technology stocks lifted US stock indexes after a sharp fall in the previous session, with investors closely tracking a meeting of Western leaders as the Ukraine crisis enters its second month.

Bank of Canada Deputy Governor Sharon Kozicki is due on Friday to speak on households and monetary policy to the Federal Reserve Bank of San Francisco.

Money markets expect Canada’s central bank to raise interest rates nearly 200 basis points further this year after it hiked this month for the first time since before the pandemic.