Although focus has been trained on Europe in advance of the upcoming rate decisions from both the UK and the Eurozone, yesterday saw the Canadian central bank leave interest rates at 1%. Coupled with repeated concerns from the Bank of Canada that low inflation and weak exports are harming the nation’s economic growth, this saw the Canadian dollar fall to a 4-week low against the US dollar.
Elsewhere, the Japanese yen also struggled, losing ground across the board as better-than-expected US data impacted the performance of the yen. Today looks to be relatively quiet away from the major economies, with building permits and purchasing managers indices released from Canada today.
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