Canadian Dollar Rebounds on Equities
After a shift in the outlook for the Canadian currency which had been losing significantly since it touched a one-year high last week versus the greenback, optimism in equities markets gave a breather for the Canadian currency to climb.
A combination of two positive factors influenced the Canadian currency performance as stocks rebounded globally, increasing risk appetite and helping the loonie to gain after several days of consecutive losses, attracting traders willing to bet in a rebound for the Canadian dollar rates.
USD/CAD traded at 1.0854 as of 11:57 GMT from a previous rate of 1.0927 when markets opened yesterday.
If you want to comment on the Canadian dollar’s recent action or have any questions regarding this currency, please, feel free to reply below.
Earlier News About the Canadian Dollar:
- Canadian Dollar Drops Sharply on Oil Rates (2009-09-26)
- Faltering Oil Affects Canadian Dollar Performance (2009-09-25)
- Canadian Dollar Declines on National Bank Statement (2009-09-23)
- Canadian Dollar Declines Further on Commodities (2009-09-22)
- Canadian Dollar Drops From Record High on Stocks (2009-09-18)