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Canadian Dollar Falls on U.S. Economy

Bank of Canada expected to cut ratesThe Canadian dollar, while holding steady against the U.S. dollar in currency trading on the FX market, is dropping against other major currencies. The Canadian dollar is being affected by the U.S. economy, slowing down and weakening the loonie in forex trading. Bloomberg reports on the Bank of Canada and the expectation that it will cut rates:

“The Canadian economy cannot escape the impact of a slowdown in the U.S,” said Nick Bennenbroek, head of currency strategy in New York at Wells Fargo & Co.

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Source : GFT Forex

This entry was posted on Monday, January 21st, 2008 at 14:38 and is filed under GFT Forex. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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