March 14th 2012, Monami Yui & Chris Fournier, Bloomberg.com
Today the USD nears a 4-week high and the highest it has ever achieved in 11-months against the Yen! According to the Robert Rennie, chief currency strategist of Westpac Bank, Sydney, he says we should be seeing signs of recovery in the US economy where treasury yields are moving higher and the dollar being more supported (cited in Yui, 2012).
Slightly up north, the Canadian Dollar (CAD) also saw some strengthening against most of its peers as growth in the US economy raised optimism (Fournier, 2012).
The CAD rose 0.4% to 98.86 cents per US Dollar. Currently is 1CAD buys $1.0115 (Fournier, 2012).
To read the full article, go here:
http://www.bloomberg.com/news/2012-03-13/dollar-near-4-week-high-as-fed-raises-economic-assessment.html
http://www.bloomberg.com/news/2012-03-13/canada-dollar-climbs-against-most-major-peers-on-u-s-growth-optimism.html
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