The Canadian dollar has seen its share of volatility this year as trade tensions between the U.S. and Canada reached a fever pitch over the weekend.
The currency is down more than five per cent against the U.S. dollar since hitting its highest point this year at the end of January.
Even as it moved higher on Wednesday after the U.S. Federal Reserve’s decision to raise interest rates, Mark McCormick, head of North American foreign exchange strategy at TD Securities, said the loonie “is probably the market’s most hated currency now,” based on his discussions with investors.
“The [loonie’s] movements are seemingly random as it waffles from headline to headline. It has decoupled from some of its key drivers, though we pin this down to NAFTA noise,” McCormick said in a note on Wednesday.
Read full story here: Is The Loonie The ‘Most Hated Currency’ In Markets Right Now? | CBC News
