The following is excerpted from today's edition of "The Star".

The Canadian dollar was up more than 1.8 cents at Monday's open as financial markets reacted positively to news of a massive package to protect the embattled euro and contain the European debt crisis.

The dollar opened North American trading Monday at 97.62 cents U.S., up 1.82 cents from Friday's close.

The loonie was among a number currencies that fell last week as currency traders responded to fears that the Greek debt crisis would spread and affect the broader European economy.

The Canadian dollar plunged to as low as 93.02 cents in hectic trading on Thursday.

Over the weekend the European Union and the International Monetary Fund pledged nearly $1 trillion to contain the debt crisis and defend the euro.

The dollar and commodities were hammered last week as the European debt crisis saw investors pile into the safe haven status of the U.S. dollar....