The Canadian Press

TORONTO: Strengthening oil prices helped the commodity-sensitive loonie punch through the 70-cent U.S. mark, closing at 70.03 cents U.S.

That’s an increase of 1.02 cents from Wednesday’s close.

The Canadian dollar hasn’t closed above 70 cents U.S. in more than a week.

Colin Cieszynski, chief market strategist at CMC Markets, says the loonie received a “double boost” from the rebound in crude prices and the Bank of Canada’s decision Wednesday to hold its benchmark interest rate steady.


© 2016 The Canadian Press