The Canadian dollar traded at a low of 75.62 cents US in early trading, a nearly one-a-half-cent drop from 77.07 cents US on Wednesday.The currency partially recovered to 76.06 cents US in late-morning trading.
The U.S. dollar, which has been flying high amid the threat of recession, gained further ground against most major currencies primarily due to short-term yields rising following a report Wednesday that the annual inflation rate in the U.S. hit 9.1 per cent in June, the highest in more than 40 years. Scotiabank chief currency strategist Shaun Osborne says "risk aversion" was dragging the Canadian dollar lower after the Bank of Canada's bold move.
I think you sell more Canadian goods when the dollar is low
'Supersized?' When do we get the 'McHappy' interest rate hike?
Looks like the Canadian pesos is coming back
Thanks Trudeau.
Too many Liberal apologists in Canada, narcissistic people that always want to blame someone else rather than admit their choices were wrong. The Liberal cabinet cannot possibly be this ignorant to the harm being caused, but they all support it.
Keep voting for left wing ideologues and you will know what it means to suffer. Stop giving authoritarians control.
Here comes your dog 💩 to eat . Trudeau gets to eat the steak 🥩
Aren't Liberal policies wonderful. All Canadians getting poorer by the day. The lower dollar policy will ensure inflation on all imports continues to accelerate.