Loading…
The Canadian dollar fell to a 4.5-year low of 1.4190 per US dollar on Thursday as broad US dollar gains and a widening yield gap weighed on the loonie. Canada's 2-year yield had fallen as much as 126 basis points below the US counterpart, the largest gap since 1997.
A widening Canada-US yield spread pushes capital out of the loonie and lowers the US dollar cost of Canadian exports. Currency-driven export competitiveness shifts Canadian grain and oilseed flows in the short term.
reuters.comFergal SmithDec 12, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
