Canadian dollar climbs above 80 cents US for the first time in 2 years.




 

The Canadian dollar climbed above 80 cents US on Monday morning for the first time since the summer of 2015.

The currency has gained nearly 10 per cent since early May, fuelled by brightening economic prospects in recent months that prompted the Bank of Canada to raise its key benchmark interest rate earlier this month for the first time in close to seven years.

It is expected that one or possibly two more rate hikes could be in the offing before the end of the year.