The Canadian dollar gained for another session, in a rally that seems to be endless, as the Federal Reserve ratified its dovish position on its interest rates, allowing the strong flow of capital from the U.S. towards north to continue for another day.
The euro lost versus against most of the main traded currencies this Wednesday as Greek budget deficit was once again hitting the headlines of European news, decreasing appetite for the bloc’s single currency, as currencies tied to growth topped the performance rank in forex markets today.
After a rather gloomy start of the year for the loonie as investors returned to the U.S. as its economy picked up in the two moths of 2010, the Canadian dollar is once again making its way towards parity with its U.S. counterpart, as commodities and stocks continue to push its rates up.
The dollar has started this week losing versus important currencies after the Federal Reserve made dovish statements regarding the country’s interest rates outlook, shunning investors to purchase assets in North America, making riskier assets to climb considerably.
The British pound had a positive performance before the weekend as both domestic and international scenario brought favorable news and consequently traders to purchase assets in the country, as a real estate report revived confidence towards U.K.’s economy.
Currencies tied to growth outperformed the U.S. dollar as risk appetite was predominant before
The loonie ended this Thursday posting an amazing result of 10 straight days of advance versus its U.S. counterpart and also gaining versus multiple important currencies as risk appetite has been favoring markets with significant influence on the Canadian dollar.
The British pound gained versus currencies from its main trading partners as odds that inflation will rise in the United Kingdom spurred demand for assets in the country, as it could lead to a series of interest rates by the Bank of England.
After gaining for two consecutive days versus important currencies like the euro and the U.S. dollar, the kiwi currency didn’t manage to sustain its trend after central bankers in the country affirmed that lack of economic improvements in the South Pacific nation will delay interest rate hikes.
The yen started this Thursday’s session in Asia gaining versus currencies regionally and globally, on speculations that local investors are repatriating capital before the Japanese fiscal year ends in the following weeks.
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