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Excerpt from:  GFT Analysts in the News
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August 27, 2008

Canadian Dollar Gains in Forex Trading

Higher oil, declining dollar boost loonie in currency trading
The Canadian dollar is on the rise in forex trading on the currency market today. One of the main helps is a rise in oil prices -- Canada's main export -- as Gustav threatens offshore refineries.

Weakness from the U.S. dollar is also boosting the loonie in currency trading. Bloomberg reports on the Canadian dollar in forex trading:

``This is more just a big dollar sell-off,'' said Jonathan Gencher, director of currency sales in Toronto at BMO Capital Markets. ``Canada is just being tagged along.''

Many forex analysts expect the loonie to fall in currency trading by the end of next year.

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Topic Tags:  Canadian dollar forex trading, currency trading, forex trading, forex trading currency market, loonie currency trading, oil prices, U.S. dollar
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