The Canadian dollar weakened today after stocks declined as traders speculated that the European leaders would experience problems on their way to drag the European Union out of crisis.
The optimism about the European rescue plan was really
The Canadian currency (often nicknamed “the loonie”) followed other currencies in the rally against the yen after Japan’s intervention. Yet that same intervention boosted the US dollar, making the greenback to gain over the loonie. At the start of today’s trading generally CAD extended its yesterday’s trend against other currencies.
USD/CAD traded today near yesterday’ close of 0.9996 as of 00:54 GMT after on the previous trading session it jumped from 0.9920 to the daily maximum of 1.0026. EUR/CAD was down today from 1.3853 to 1.3832 after yesterday it fell from 1.4036 to the daily minimum of 1.3780 — the lowest level since September 22. CAD/JPY went today from 78.15 to 78.28, while earlier it reached 79.04.
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