Canadian Dollar Declines on National Bank Statement

Canada has been one of the fastest economies to recover from the recession that impacted the world last year, but the Bank of Canada is stressing on the fact that strong currency may delay the economic rebound in the country, affecting traders’ sentiment towards the loonie.
According to Bank of Canada officials, interest rates will be maintained at a record low in Canada until 2010, suggesting that even if the country is recovering from the biggest crisis in decades, economic conditions are not so improved to the point interest rates can be hiked, shunning investors from loonie-priced assets.
USD/CAD traded at 1.0753 as of 21:22 GMT from a previous rate of 1.0677 yesterday.

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