The Canadian dollar strengthened against its US counterpart on Friday, following data that showed factors driving faster growth in the US economy that are likely to be temporary. US economic growth accelerated in the first quarter, but the burst in growth was driven by trade and the largest accumulation of unsold goods since 2015, factors that are likely to reverse in the coming quarters.
At 4:17 p.m. (2017 GMT), the Canadian dollar was trading 0.2% higher at 1.3458 to the greenback, or 74.31 US cents. The currency, which on Wednesday touched a nearly four-month low at 1.3522, traded in a range of 1.3452 to 1.3498. For the week, the loonie fell 0.5%. Canadian government bond prices were higher across the yield curve in sympathy with US Treasuries. The two-year rose 1 Canadian cent to yield 1.545% and the 10-year climbed 17 Canadian cents to yield 1.687%.
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