The Canadian dollar started this week losing versus most of the 16 main traded currencies as a negative performance in stocks and commodities influenced the loonie’s attractiveness today, as investors opted for the safety of the greenback.
After last week’s declarations from the Bank of Canada affirming that a strong loonie could delay the economic recovery in the North American nation, the loonie’s attractiveness decline, also being affected today by a bearish stock market in Asia and a decline in demand for commodities, erasing the Canadian currency past weeks’ gains.
USD/CAD traded at 1.0974 as of 10:26 GMT from an opening rate of 1.0915 yesterday.
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