Thursday saw the Canadian dollar perform strongly against the monetary unit of Japan after the Bank of Japan kicked off a stimulus program more aggressive than expected during the first policy meeting of the new guard with the central bank of the Pacific Rim nation, Bloomberg reports.
But the performance of the loonie was neither as strong nor as consistent against the world's reserve currency in anticipation of both Canada and the U.S. releasing labor market data. New Bank of Japan governor Haruhiko Kuroda ordered monthly bond purchases to double on Thursday during the first policy meeting of his tenure.
"I think on balance people are probably managing expectations a little bit lower, the consensus was around the 200,000 mark (of U.S. payrolls' net rise), but people are starting to expect something lower," foreign exchange sales director Matt Perrier with BMO Capital Markets told Reuters on Thursday.
He predicted the loonie for the most part will continue slipping against the U.S. dollar.
The Canadian dollar's performance against the world's reserve currency originally was strong but then it slumped before slightly recovering and fluctuating against its counterpart.
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