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Industry: Email Alert RSS FeedCanadian Dollar and Financial Outlook.
Resource News International, June, 2005
WINNIPEG, MB, Jun 22, 2005 (Resource News International via COMTEX)
The Canadian dollar was trading at a slightly weaker level early on Wednesday. Strength in the US dollar prompted by talk of a European interest rate cut helped to work against the Canadian currency, market watchers said. Activity in the Canadian dollar was consolidative in nature.
There was no economic data of significance released in Canada Wednesday morning.
Helping to keep a firm floor under the Canadian dollar were ideas that the Bank of Canada has room to raise interest rates given recent strong economic data, brokers said.
Some market participants, however, felt the Bank of Canada is in no hurry to hike rates.
Most market participants were paying...
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