With investors backing away from the euro, the Canadian dollar is one of the currencies seeing the most gain and has advanced to a two- month high versus the euro. The loonie rose 0.7 percent to C$1.3431 per euro at 8:14 a.m. in New York, from C$1.3523 on Nov. 26 and traded at C$1.0205 per U.S. dollar after advancing earlier today to C$1.0148.
“Europe is a very key focus in the market right now,†said Blake Jespersen, director of foreign exchange at Bank of Montreal in Toronto. “The Canadian dollar has done very well in the last few weeks against the euro.â€Â
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by Scott Boyd (see all)
- Japan’s Demographic Trap - 25 June 2012
- Officials Talk Openly of Greek Euro Exit - 16 May 2012
- Greek Voters Prepare to Roll the Dice - 15 May 2012