The Canadian dollar touched its highest point this year that might disappoint exporters and the Bank of Canada who were hoping for a weaker currency to bolster exports.
The loonie reached 94.12 US cents Wednesday, the highest since December 31, 2013, before going back to Monday’s 93.75 US cents.
Also, the Toronto stock market also logged a new record despite a firm report about Canadian manufacturing.
“It’s probably making the Bank of Canada incredibly uncomfortable, as well as exporters,” said Camilla Sutton, Chief Foreign Exchange Strategist at Scotiabank.
The material has been provided by InstaForex Company – www.instaforex.com
The Canadian dollar touched its highest point this year that might disappoint exporters and the Bank of Canada who were hoping for a weaker currency to bolster exports.
The loonie reached 94.12 US cents Wednesday, the highest since December 31, 2013, before going back to Monday’s 93.75 US cents.
Also, the Toronto stock market also logged a new record despite a firm report about Canadian manufacturing.
“It’s probably making the Bank of Canada incredibly uncomfortable, as well as exporters,” said Camilla Sutton, Chief Foreign Exchange Strategist at Scotiabank.
The material has been provided by InstaForex Company – www.instaforex.com
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