The Canadian dollar accelerated Tuesday as investors await the Bank of Canada’s interest rate decision, and on extensive return to risk assets as traders speculate additional stimulus out of China.
The loonie finished at 75.73 US cents from Friday’s 75.39 US cents.
Commodity currencies did well from the beginning. Figures were also quite good, firm enough to eradicate doubts if “the bank might ease,” said Mark Chandler, Head of Canadian Fixed Income and Currency Strategy at Royal Bank of Canada.
Meanwhile, US crude prices ended at $45.94 a barrel, while Brent crude settled at $49.52.
The material has been provided by InstaForex Company – www.instaforex.com