The Globe and Mail reports in its Thursday, April 10, edition that the commodity-linked Canadian dollar strengthened by the most in nearly three months against its U.S. counterpart on Wednesday as a sudden reversal by the U.S. on tariffs bolstered the outlook for the global economy. A Reuters dispatch to The Globe reports that the loonie was trading 1.2 per cent higher at 1.4095 per U.S. dollar, or 70.95 U.S. cents, its biggest advance since Jan. 20. The currency touched its strongest intraday level since Friday at 1.4076. U.S. President Donald Trump said he would temporarily lower new tariffs on many countries, even as he raised them further on imports from China. "The global growth outlook looks better is the bottom line for the Canadian dollar right now," said ForexLive's Adam Button. "Extreme reciprocal tariffs were likely to create a worldwide recession and now it's clear it was all a negotiating tactic." Canada, which is this year's chair of the G7 developed economies, and Japan have agreed to co-operate to maintain stability in financial markets and the global financial system, Japan's Ministry of Finance said. Canadian bond yields rose across much of a flatter curve, tracking moves in U.S. Treasuries.