Despite the lack of progress in Washington budget talks, the Canadian dollar is modestly firmer, with gains made in the wake of China's stronger PMI reading. The loonie's gains show a slice of the market that's unwilling to panic about the so-called fiscal cliff and that's increasingly expecting that a policy response is likely to come in January, after the series of tax increases and spending cuts have taken hold. Scotiabank's Camilla Sutton sees the US dollar treading between its 100- to 200-day moving average range of C$0.9886-C$0.9990 on Monday. It's sitting now at C$0.9956, from C$0.9968 late Friday.
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The Canadian dollar (sign: $; code: CAD) is the currency of Canada. As of 2011, the Canadian dollar is the 7th most traded currency in the world
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