3/16/2018, 12:34 PM (Source: TeleTrader)
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Canadian dollar falls to nine-year low against euro

The Canadian currency weakened further on Friday as investors scaled back expectations of interest rate increases, which normally make the country's assets more appealing. The markets were wary after a barrage of less favorable macroeconomic data, while optimism also subsided after the initial relief over the temporary exclusion from import tariffs in the United States for aluminum and steel. Bank of Canada Governor Stephen Poloz has painted a more cautious picture for the outlook, weighing on the positions of the Canadian dollar, also known as the loonie.

The US dollar was 0.28% up at C$1.30904 at 12:31 pm CET, after touching C$1.3093, the highest point since June 28. The euro advanced 0.4% to C$1.6125, compared to the session high of C$1.6131, unseen since July 13, 2009. The pound was 0.46% in the green at C$1.8277, a record since the Brexit referendum results were published on June 24, 2016. The Canadian dollar dropped 0.43% to 0.7258 Swiss francs.

Baha Breaking News (BBN) / IT