Canadian dollar is now the laggard
The Canadian dollar made an impressive bounce on Friday despite a dismal jobs report but it wasn’t enough to prevent it from falling to the bottom of the FX performance chart this year.
At the other are the risk-averse Swiss franc and Japanese yen. Given the trouble this year, that’s not a big surprise.
Looking ahead, a big problem for the Canadian dollar is oil. The US is racing to produce more and more. It’s something I spoke about on BNN on Thursday.
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