The Canadian dollar was up against its American counterpart by the close of the US foreign exchange trading session yesterday (November 9th).During the session, the Canadian dollar, named the loonie for the aquatic bird on the reverse face of the $1 coin, hit a two-week high against the greenback before retreating slightly.Speaking to Reuters, George Davis, chief technical strategist RBC Capital
Markets, commented: "The market is a bit more risk-seeking today given how stocks and commodities are doing, so that's generally what's hurting the US dollar and benefiting the Canadian dollar."The heightened appetite for risk came after G20 nations reiterated their commitment to fiscal stimulus programmes and interventions to support the global economy after a meeting over the weekend.Last week, a number of G20 states issued dovish stances on interest rates in their monthly central bank policy meetings, although the Reserve Bank of Australia was emboldened sufficiently to raise the cash rate by 25 basis points to 3.25 per cent.