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Industry: Email Alert RSS FeedCanadian Forex/Bond Comment: C$ Weakens.
Resource News International, March, 2008
Byline: Resource News International
WINNIPEG, MB, Mar 04, 2008 (Resource News International via COMTEX) -- The Canadian dollar finished Tuesday's session on a weaker footing versus the US currency. The Bank of Canada's 50 basis point interest rate cut helped to initiate the pull-back in the value of the Canadian dollar, but it was a dovish statement from the Central Bank that sparked the softening trend, market watchers said.
The Canadian currency closed out the North American session at 100.49 US cents or C$0.9951 on Tuesday. This compares with Monday's closing North American mark of 101.04 US cents or C$0.9897.
The Bank of Canada on Tuesday chopped its key overnight lending rate by half a percentage point to 3.5 per cent to prevent US...
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