Reuters
The Canadian dollar strengthened to a near three-week high against its U.S. counterpart on Monday as investors took stock of recent broad-based gains for the greenback and the Bank of Canada said the economy could grow as inflation cools. "We are seeing a little bit of position squaring," said Michael Goshko, senior market analyst at Convera Canada. The U.S. dollar pulled back from a seven-week against a basket of major currencies, while the price of oil, one of Canada's major exports, settled 1.1% higher at $81.63 a barrel.