TORONTO, Oct 1: The Canadian dollar soared to a 14-year high against the greenback on Friday and also hit new peaks against several other major currencies as momentum players bet on a steady economy, more interest rate hikes and further investment in Canada’s oil patch.

Bond prices rose on the long end, helped by a late-day stock selloff.

The currency finished at C$1.1627 to the US dollar, or 86.01 US cents, up from C$1.1712 to the US dollar, or 85.38 US cents, at Thursday’s close.

Despite a middling July economic growth report and weaker crude oil prices, the currency rose as high as C$1.1588 to the US dollar, or 86.30 U.S. cents, its strongest level since January 1992.

Canadian debt sharply outperformed US treasuries, which fell hard as rising inflation and an improvement in Midwest business conditions firmed expectations that the US Federal Reserve will keep raising interest rates.—Reuters