Currency Note Worldwide

Poor data undermines the Canadian dollar

By Smart Currency September 24th, 2014

  • The Canadian dollar took a hammering yesterday as retail sales came out negative in comparison to the forecast of 0.5%. This is the weakest we have seen the Canadian dollar for almost a month and is unlikely to change until 30th September, when growth figures are released.
  • As the US announced that they had decided to begin bombing in the Middle East, investors turned to the safe haven currencies of the Japanese yen and Swiss franc, in particular the Yen as it tries to recover from the recent six-year lows. The currency also strengthened thanks to the safe haven status as widespread political unrest grows around the world.

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