Canadian Dollar Falls as Fundamentals Favor Safe Currencies
The Canadian dollar slumped today against its US counterpart as the tension between North and South Korea is becoming more heated and the European debt crisis threatens to spread across the Eurozone, causing the investors shun the
The conflict between North and South Korea is closing to the brink of war and was further worsened with the involvement of the United States. The policy makers of the Eurozone are attempting to convince Portugal to accept the aid from the European Union’s bailout fund. The European leaders hope with such move to prevent the
USD/CAD climbed from 1.0095 to 1.0202 as of 18:36 GMT today after rising to the intraday high of 1.0246. EUR/CAD rose slightly from its opening level of 1.3489 to 1.3498.
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Earlier News About the Canadian Dollar:
- Canadian Dollar Surges as Risk Aversion Turns to Risk Appetite (2010-11-24)
- Concern for Ireland's Debt Pushes USD/CAD Higher, EUR/CAD Lower (2010-11-22)
- Week Marked by Optimism for Canadian Currency (2010-11-22)
- Canadian Dollar Rises vs. Greenback, Falls vs. Euro (2010-11-20)
- Talks About Ireland's Bailout Improve Sentiment, Supporting Loonie (2010-11-18)