Canadian Dollar Advances on GDP Figures

After Canada posted positive quarterly gross domestic product figures, the national currency benefited on the economic outlook and optimism, advancing versus most of the 16 main traded currencies in foreign-exchange markets.

Even if Canadian GDP quarterly figures came below expectations at an annual rate of 0.4 percent, optimism helped the loonie, that also benefited after the U.A.E. central bank said it will back debts made by the Dubai World investment agency, declining risk aversion in financial markets worldwide.

USD/CAD traded at 1.0556 as of 18:43 GMT from 1.0603 yesterday.

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