- A rebound from the Aussie dollar on Friday helped to stabilise the currency after it fell to levels not seen since February. However, the New Zealand Dollar did not benefit as it continued to remain around Thursdays levels, having weakened by around 2%, after the nation’s central bank Governor singled out how historically high the currency is.
- The Canadian dollar remains under pressure against its major peer, the US dollar, as it remained at six-month lows. The Canadian central bank has serious concerns about the slowing growth and weakness across Europe. Weakness abroad does not look good for Canadian exports and this will be a large concern for the central bank Governor as exports to Europe were targeted to help the Canadian economy thrive. This week brings Canadian growth data on Tuesday and trade balance data on Friday, which could cause movement for the Canadian currency.
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