Canadian dollar on a tear, rising above 71 cents U.S.

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“The (US) dollar is weakening once more as the initial optimism sparked by yesterday’s tariff reversal yields to a more measured assessment of the risks still facing the US and world economy,” Karl Schamotta, chief market strategy at Corpay Currency Research, said in a note on Thursday as the dollar index, which measures the greenback’s value against a basket of major currency including the loonie, continued to tumble.

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