The Canadian dollar rose against the Japanese yen today as positive fundamentals may encourage policy makers to tighten monetary policy. At the same time, the currency weakened against the US dollar. Signs of economic growth in Canada reinforce the case for the Bank of Canada to remove part of monetary accommodation. Good news from the United States, the biggest trading partner of Canada, added to the chances of stimulus reduction and the strength of the loonie. Traders should take into account … “CAD Rises vs. JPY on Positive Fundamentals, Falls vs. USD”
Month: August 2013
Fed Keeps Stimulus, Dollar Remains Firm
The US dollar gained today, paring yesterday’s loss versus the euro, even as the Federal Reserve promised to maintain stimulus for a long time. The rise can be explained by macroeconomic data that supported the case for stimulus reduction. The Fed kept its monetary policy unchanged yesterday. Such decision was expected, but traders were anticipating that the central bank will hint on quantitative easing tampering. Instead, the Federal Open Market … “Fed Keeps Stimulus, Dollar Remains Firm”