April 27th 2012. Chris Fournier, Lucy Meakin, Monami Yui & Kristine Aquino, Bloomberg.com
Today the Canadian Dollar reaches a 7-month high at 98.07 cents against the dollar, the highest since September (Fournier, 2012).
Futures markets are “starting to price in the probability of a Bank of Canada rate hike by the fall, and that’s really driving the Canadian dollar’s strength,” said Shane Enright, executive director at Canadian Imperial Bank of Commerce’s CIBC World Markets unit in Toronto (Fournier, 2012).
Also the British Pound (GBP) climbs 0.2% against the Euro and USD at 81.65pence per euro and $1.6188 consequtively (Meakin, 2012).
Besides that, the Yen dropped against 14 of its 16 major peers on speculation that the Bank of Japan will expand stimulus measures to combat deflation today (Yui & Aquino, 2012). The Yen fell 0.2% against the dollar at 81.13 yesterday.
To read full articles, go here:
Fournier, C 2012, Bloomberg.com
Meakin, L 2012, Bloomberg.com
Yui, M & Aquino, K 2012, Bloomberg.com
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