The Canadian dollar strengthened today, rising for the fourth straight day against its US counterpart, as the report showed that the Canadian economy grew more than forecast in the last quarter of 2010.

The Great Britain pound advanced today on the speculation that Britain’s central bank will raise the interest rates to slow the growing inflation, which was bolstered by the surging oil prices.

The New Zealand dollar advanced today, rising versus 15 of 16 most-traded currencies, as the nation’s traded balance unexpectedly posted a surplus in January and as the Asian stocks gained.

The Japanese yen, together with the Swiss franc, was the best performing currency this weak as the civil unrest in North Africa and Middle East resulted in the uncertainty among traders and caused the shift of sentiment toward risk aversion.

The Canadian dollar strengthened as crude oil, key export of Canada, posted the biggest weekly gain since 2009 and as recovering Canada’s economy fueled the speculations about the interest rates hike by the Canadian central bank.

The Great Britain pound extended its losses today after the report showed that Britain’s economy shrank more than predicted in the fourth quarter of the last year.

The Japanese yen rebounded today after it weakened on the speculation that the tensions in Libya has eased and that the Japanese currency is overbought.

The Great Britain pound tumbled as the reports showed that the UK economic recovery stalled and the political unrest in the countries of North Africa and Middle East drove traders away from riskier assets.

The Canadian dollar strengthened as the unrest in Libya caused the prices for crude oil to jump to the highest level in 29 months, increasing attractiveness of the currencies related to economic growth.

The Swiss franc rallied to the record against the US dollar as the attempts of Libyan leader Muammar al-Gaddafi caused traders to avoid risk.