Currency Note Worldwide

Canadian dollar buoyed following central bank statement

By Ricky Bean September 5th, 2013

Elsewhere, the Canadian dollar performed well against the majority of its peers yesterday following the Bank of Canada rate statement. The Bank quelled fears of an increase in quantitative easing as it asserted that current monetary policy remains appropriate. Interest rates were also maintained at their current levels. The Australian dollar also had a strong day yesterday following strong second quarter GDP data, which showed encouraging growth. An element of risk appetite also re-entered the market following strong Chinese and Australian data, from which the Australian dollar has clearly benefited. Overnight we saw trade balance data out of Australia and the Bank of Japan issue their latest monetary policy statement. Call your trader now to keep pace with market movements in a busy week for world news.