Canada's Dollar Pares Early Gain as U.S. Currency Rises on Confidence Data

(Bloomberg) -- Canada's dollar retreated from early
gains, trading near the monthly low, as the U.S. dollar
strengthened after a report showing consumer confidence in the
world's largest economy jumped to the highest in almost six
years.

Earlier, the currency benefited as equity markets worldwide
rebounded and a report showed Canada's economy expanded in May.
The currency is poised to record its first monthly loss since
January as investors sold commodity-linked currencies on
concerns that the U.S. subprime lending losses will spread,
slowing the global growth.


Read more at Bloomberg Currencies News