CAD moves against USD

Dhaka, Bangladesh (BBN) – US stocks advanced, sending the Dow Jones Industrial Average to a two week high of 9,108.51, following upbeat housing sales data for July 2009.

Canadian Dollar (CAD) advanced to 1.0808 against US Dollar (USD), the highest level since October 2008. Expectations of economic recovery bolstered demand for commodities and commodity linked currencies like CAD, according to reports.

Asian Bank stocks advanced, sending the MSCI Asia Pacific Index to 109.25, on optimistic profit expectations from Sumitomo Mitsui Financial Group Incorporated, Japan’s third largest lender.

BBN/SS/SI/AD-28July09-3:43 pm (BST)

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