020 7898 0500- The Canadian dollar soared to three-month highs against its local but larger neighbour, the US dollar. This was largely fuelled by disappointing US economic reports that heightened speculation over the timings of a US rate hike by the Federal Reserve. The Canadian dollar capitalized on this as The US dollar reached 1.2232 against its Canadian counterpart, the US dollar’s lowest position since 21st January.
- Things were also looking up for the Australian dollar on Thursday as a report by the Australian Bureau of Statistics showed that the number of people in employment jumped by 37,000 in March, more than double expectations. It has been a mixed week for the Australian economy, but this overshooting of employment figures certainly gives it a reason for positivity.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.
