The loonie had a day of losses versus virtually all main traded currencies, as U.S. jobs were cut more than what forecasts predicted, damping demand for risk appetite in markets.
The Canadian currency had a immediate fall right after a U.S. report indicated more job cuts than what economists forecast, and since Canada’s economy is highly dependent on its trade with the United States, a pessimism report suggesting that the North American economy will take longer to recover from the current recession damped the Canadian dollar attractiveness, pushing traders to safer bets, like the Japanese yen.
CAD/JPY traded at 82.65 as of 18:17 GMT falling from a
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