# Loonie drops sharply as BoC eyes impact of currency - The Globe and Mail

> The Canadian dollar fell nearly a cent to 81.3 US cents after Deputy Governor Lane said the Bank of Canada was paying close attention to the stronger currency and the impact of two rate hikes. Analysts read the remarks as a signal of a more gradual pace of rate increases.

- Date: 2017-09-18 · published 2017-09-18T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/69199-loonie-drops-sharply-as-boc-eyes-impact-of-currency-the-globe-and-mail
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

Expectations of slower Canadian rate hikes weaken the loonie, which can make Canadian canola meal and other exports cheaper for US buyers in dollar terms.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/report-on-business/economy/bank-of-canada-keeping-a-wary-eye-on-nafta-talks-protectionist-shift-deputy-governor/article36289965/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.