The Canadian dollar slumped today against the US dollar on the concerns that the European
The Standard & Poorâs 500 Index went down 0.8 percent and the MSCI World Index of stocks dropped 1 percent. October delivery for crude oil fell as much as 2.6 percent to $72.63 per barrel in New York. The loonie also weakened after the Wall Street Journal claimed that the stress tests of the European banks underestimated some holdings of the government debt.
Shaun Osborne, chief currency strategist at
The driver is the U.S. dollarâs generally stronger tone rather than anything
The policy makers of the Bank of Canada will meet tomorrow to discuss and make the decision about the interest rates.
USD/CAD surged from 1.0350 to 1.0477 today as of 20:47 GMT, while EUR/CAD fell from 1.3326 to 1.3283, following the decline to 1.3247.
If you have any questions, comments or opinions regarding the Canadian Dollar,
feel free to post them using the commentary form below.