Excerpt from: GFT Analysts in the News
|
 |
| November 21, 2008 | | Loonie gains in currency trading | The Canadian dollar is rallying on the FX market today. Thanks to some help from an improving stock market, sentiment is favoring the loonie in currency trading for the first time in quite a while.
However, the Canadian dollar is still a ways from parity with the U.S. dollar, and has fallen quite far from its decades-high peaks around the beginning of 2008.
This stimulation of the Canadian economy may result in dialing back speculation that the Bank of Canada will cut interest rates.
| Topic Tags: Bank of Canada, Canadian dollar, currency trading, dollar FX market, FX market, loonie currency trading, stock market, U.S. dollar | |
|
|