The Canadian dollar rocketed versus the US dollar for a third consecutive session Thursday, as the Bank of Canada gave more optimistic economic outlook in the second half of 2015.
The currency, away from key technical levels for the first time since January, powered to its firmest against its rival Wednesday, since the central bank’s sudden interest rate cut in January.
The BOC’s message was not bullish, but definitely less dovish “and the market’s really taken it forward,” said Don Mikolich, Executive Director of Foreign Exchange Sales at CIBC World Markets.
The Canadian dollar closed at C$1.2181 per US dollar or 82.10 U.S. cents, from Wednesday’s C$1.2300 or 81.30 US cents.
Markets will await the US and Canadian inflation data for March, as well as the Canadian retail sales for February due Friday.
The material has been provided by InstaForex Company – www.instaforex.com