PRIME NEWS@INSTAFOREX Source: mt5/ CANADIAN DOLLAR SLIDES AS INVESTORS MULL FED TIMING, JOBS DATA The Canadian dollar tumbled versus the US dollar Thursday, wiping out yesterday’s firm gain, as Federal Reserve’s comments tempered woes on the impact of recent increase in the greenback might have on monetary policy. Weaker oil prices also pressured the loonie. The market was cautious before the Canadian unemployment report for September. The release of the latest Fed minutes Wednesday roiled currency markets as they reflected concern from certain policymakers the surge in the US dollar might slow a gradual rise in inflation towards its 2% goal. His comments definitely appear to dial that back and contain some of those interest rates moves, said Ken Wills, Currency Strategist and Broker at CanadianForex. The loonie traded at C$1.1173 to the greenback or 89.50 US cents, weaker than Wednesdays C$1.1104 or 90.06 US cents.
Posted on: Fri, 10 Oct 2014 04:55:50 +0000