Futures Market News
Loonie fluctuates against greenback, ends losses against euro
Aug 24, 2012 12:23 PM
The Canadian dollar fluctuated against the world's reserve currency on Friday as investors exercised caution while waiting to see how much easing central banks will enact to spur the economic systems they support, according to Reuters.
Foreign exchange sales director Matt Perrier with BMO Capital Markets told that the relation between the U.S. dollar and the Canadian dollar was hovering about a very specific range.
Angela Merkel, chancellor of Germany - the host of the largest economy in the 17-nation bloc, said on Friday that debt-hobbled two-time bailout recipient Greece should remain among the euro bloc. She also noted that the Aegean nation has devoted significant toil to pulling itself up and hammering away at the sovereign debt troubles that have been plaguing it.
Losses to oil and metals on Friday also impacted the performance of the commodity-linked loonie, The Canadian Press reports. The energy source is the natural-resources rich nation's top export.
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