07.08.2008 - Canadian dollar rattled again by oil-price fall
From reuters.com: The Canadian dollar fell more than half a cent to a fresh 11-month low versus the U.S. dollar on Wednesday as the downdraft in commodity prices continued to rattle the currency. Canadian bond prices, with no key economic data to spark a move, finished mostly flat across the curve as dealers bided their time until key Canadian jobs figures are released on Friday. The Canadian dollar closed at C$1.0477 to the U.S. dollar, or 95.45 U.S. cents, down from C$1.0419 to the U.S. dollar, or 95.98 U.S. cents, at Tuesday's close. As has been the case in recent sessions, Canada's role as a key exporter of oil weighed on its currency since the price of oil fell to a three-month low less than a month after it vaulted to a record above $147 a barrel."It hasn't been the same degree that other commodity-based currencies have fallen, but normally if commodity prices fall we tend to get dragged along," said Sal Guatieri, senior economist at BMO Capital Markets...... Full Article: Source
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