Canadian Greenback Rebounds – Will It Final?
CANADIAN DOLLAR FORECAST: USD/CAD PRICE DROPS AS LOONIE RECOVERS
- USD/CAD rallied 13% off its year-to-date low because the US Dollar climbed in opposition to its Canadian Dollar peer amid the crude oil price crash
- Spot USD/CAD value motion has since pulled again over 300-pips from its latest swing excessive because the Loonie recovers latest draw back
- The US Greenback to Canadian Greenback fee has potential to renew its ascent if coronavirus issues and liquidity strains resurface
The Canadian Greenback, or Loonie, is the most effective performing major currency pair to date throughout Wednesday’s buying and selling session. Spot USD/CAD is down by about 0.8% at present because the US Greenback slides farther from a four-year excessive in opposition to its Canadian Greenback counterpart.
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