Currency Note Worldwide

Canadian dollar weakens following central bank speculation

By Smart Currency December 31st, 2013

Elsewhere, the Canadian dollar touched on three-year lows against its US counterpart in the early hours of yesterday morning. The weakness came about amid speculation among traders that the central bank will hold interest rates at 1% throughout 2014. This was following the announcement that the US Federal Reserve will taper monetary stimulus as soon as January. Despite recovering slightly throughout the afternoon, the Canadian currency remains relatively very weak. We also saw the Thai baht drop down to 2010 lows amid political unrest in the country, with the head of the army using some contentious rhetoric following deadly street protests in Bangkok. The Turkish lira bounced back from a difficult end to last week, with stocks jumping by the most in three months as tensions between the government and the judiciary appear to be subsiding. A quiet day on the data-front, with many countries enjoying a Bank Holiday today and tomorrow. Get in touch for a live rate.