Excerpt from: GFT Analysts in the News
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| July 09, 2007 | | Loonie at 30-year highs in forex trading | The Canadian dollar continues to gain in currency trading on the FX market as the economy expands at a rapid pace, and as commodities remain in demand. The loonie is inching closer to parity with the U.S. dollar in forex trading, a feat some analysts believe the Canadian dollar will accomplish by the end of the year. Bloomberg reports on the loonie in forex trading:
The currency's rally is its longest since April. The
central bank will lift the overnight rate by a quarter-
percentage point to 4.5 percent tomorrow, according to 28 of 29
economists surveyed by Bloomberg News. Policy makers on May 29
said rate increases may be needed ``in the near term,'' citing
``excess demand'' in the world's eighth-biggest economy. | Topic Tags: Canadian dollar, Canadian dollar currency trading, currency trading, forex trading, FX market, loonie forex trading, U.S. dollar forex trading | |
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