Canada is “ticking up” the value of its currency after the U.S. Federal Reserve’s decision to hike interest rates for the first time in nearly four years.
The dollar, which has lost about half its value against the greenback this year, is up about 0.6% at 79.70 cents US.
The Canadian dollar index is up 0.1% to 86.70 US cents.
The Toronto Stock Exchange also closed up 0,2% after the Federal Reserve announcement.
The currency fell more than 0.2% in Tokyo.
“This is the worst possible scenario.
This is the first one in which the Fed has raised rates in four years,” said Charles Grant, president of Global Advisors.
“It has been a very, very painful year for the Canadian economy, and the Fed is going to have to be careful.
But I think it’s going to come down in a year or two.”
The Canadian pound is up 2.2%, with a decline of more than 2% against the U, British and Australian currencies.
The euro was down 0.9% at $1.19.
The Swiss franc dropped 0.7% to 3.75 francs per euro.
Canada’s biggest stock index was up 0% on the day.
Canadian oil prices were up about 1% to US$57.55 per barrel.
The U.K. dropped 2.4% to $55.96 per barrel and the U:European Central Bank dropped 2% to €1.3064.
The greenback fell 0.4%, to 79.10 cents US, in London.
Canada and the United States were trading at record highs in 2016.
They are now trading near their highs last year.
The central bank’s announcement on Wednesday to raise rates is seen as a significant boost for the U to stimulate the economy, although the currency has been under pressure since the Brexit vote last year and Trump’s election victory.