Currency Note Worldwide

US dollar strength has a knock-on effect

By Ricky Bean December 24th, 2014

The Canadian dollar has been pushed to a five year low of $1.161 against the US dollar. There are various factors behind this shift, with the rapid decrease in global oil prices being the major recent driver.

Another key factor in this drop was the US Quarter on Quarter growth rate release at 5% against the expectation of 3.9%.