| The Canadian dollar tumbled to the lowest in four months as oil, the country’s second-largest export, extended its slide and traders ramped up bets on greater monetary-policy divergence between the Bank of Canada and the Federal Reserve.
The Canadian dollar declined for a fifth day, falling to the lowest since March 25. Crude fell in New York as producers continue to ramp up production even with oil stockpiles at the highest seasonal level in decades. The U.S. dollar rallied on speculation the Fed will signal at its policy meeting Wednesday that it’s on course to raise interest rates later this year...............................................Full Article: Source
|