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Canadian dollar firmer as commodity currencies strengthen

Posted on 31 March 2011

The Canadian dollar is firmer Wednesday morning and is approaching the multi-year highs touched earlier this month as commodity currencies in general strengthen. The U.S. dollar is at C$0.9704 from C$0.9747 late Tuesday, according to data provider CQG. It dipped to a low at C$0.9685, its lowest level since March 10, in earlier trading.

Traders said the move was supported by buying of the Canadian dollar against Japanese yen. The Canadian unit reached a session high of Y85.80, its highest level since July 2010………………………………………Full Article: Source


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VRS - who has written 37608 posts on Opalesque Commodities Briefing.


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