The Canadian Dollar has fallen against the majority of its most traded peers including the Pound and US Dollar as speculation grows that the Bank of Canada will keep interest rates low next year as the Eurozone shows signs of recovery.
Against the Euro the currency fell to its lowest level in close to four-years and remained at multi-year lows against the Pound. Bets increased that the Bank of Canada will not increase interest rates until the latter half of 2015 at the earliest, as it waits for the global economy to strengthen further and the country’s exports to improve.
The Euro’s dramatic surge to a two-year high against the US Dollar and its surge against the ‘Loonie’ was a result of the muted trade occurring in the markets as a result of the end of year holiday season. Positive data releases from France, Greece and Spain also aided the single currency.
The Canadian currency was also brought under pressure by a decline in commodity prices for copper and wheat. Losses where limited somewhat by a slight increase in oil prices.
Current Canadian Dollar (CAD) Exchange Rates:
The Canadian Dollar/US Dollar Exchange Rate is currently in the region of: 0.9372
The Canadian Dollar /Euro Exchange Rate is currently in the region of: 0.6792
The Canadian Dollar/Pound Sterling Exchange Rate is currently in the region of: 0.5671
The Canadian Dollar/Australian Dollar Exchange Rate is currently in the region of: 1.0522
The Canadian Dollar /New Zealand Dollar Exchange Rate is currently in the region of: 1.1448
The Pound Sterling/Canadian Dollar Exchange Rate is currently in the region of: 1.7618
The US Dollar/ Canadian Dollar Exchange Rate is currently in the region of: 1.0668
The Euro/Canadian Dollar Exchange Rate is currently in the region of: 1.4712
The New Zealand Dollar/Canadian Dollar Exchange Rate is currently in the region of: 0.8733
The Australian Dollar/Canadian Dollar Exchange Rate is currently in the region of: 0.9501
(Correct as of 15:00 pm GMT)
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