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Loonie Tumbles Again, Closing at Six-Month Low

Posted October 02, 2014

Under Economic Issues, International Trade Issues

(Malcolm Morrison – Globe & Mail)

The Canadian currency was also pressured by a greenback that has steadily appreciated this month amid positive American economic data and speculation about when the U.S. Federal Reserve may start to raise interest rates.

The currency has tumbled about two cents this month, pushing it to its lowest levels since the end of March.

Markets have generally looked for the Fed to raise rates around the middle of 2015, although the U.S. central bank has said its move will depend on economic data rather than a schedule. Traders are looking for reassurance that U.S. job growth continues to strengthen. Read more here.