TORONTO -- The Canadian dollar surged to a four-month high today amid a hawkish tone on interest rates by Bank of Canada governor Stephen Poloz.
The loonie jumped 0.74 of a U.S. cent to an average price of 76.57 cents US.
The currency's ascent helped send financials stocks higher, with that sector leading gainers on the Toronto's S&P/TSX composite index, which climbed 74.36 points to 15,355.58.
It was a similarly positive day in New York as the Dow Jones industrial average gained 143.95 points to 21,454.61. The S&P 500 index added 21.31 points to 2,440.69 and the Nasdaq composite index was ahead 87.79 points to 6,234.41.
In commodities, the August crude contract advanced 50 cents at US$44.74 per barrel and the August natural gas contract was up three cents at US$3.09 per mmBTU.
The August gold contract gained $2.20 to US$1,249.10 an ounce and the September copper contract climbed a penny at US$2.68 a pound.
