Buffett's Home Capital Bet Helps Spur Rally in Canadian Dollar
- Loonie advances most in a week, beating all major peers
- Currency also supported by better-than-expected retail sales
Buffett Poised for Immediate Gain From Home Capital
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Warren Buffett’s rescue of beleaguered alternative mortgage lender Home Capital Group Inc. is helping the Canadian dollar outperform all major currencies on Thursday.
The loonie rose 0.8 percent to C$1.3233 against the U.S. dollar at 11:37 a.m. in Toronto, the top performer among 16 majors tracked by Bloomberg. A report by the government statistics agency that showed Canada’s April retail sales exceeded expectations also boosted the currency’s appeal, although it’s still the second-worst performing major this year.