Canadian Dollar Exchange Rates

The Canadian interest rate decision came out unchanged as expected and stayed at 0.25%, however as regular readers will soon become aware it is the accompanying information that is heavily watched by investors.

In the announcement that followed it was suggested that the Bank of Canada would extend its low-rate strategy by a further 3 months. This dramatically weakened the Canadian dollar and the pound strengthened by over 2% in response.

This trend has continued throughout tradin today with "the loonie" currently trading above 1.72.