Tag: Currency

Is The Loonie The ‘Most Hated Currency’ In Markets Right Now? | CBC News

mdbincbi

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.…

Read More

Budget Says Some Paper Currency Will No Longer Be Legal Tender – Politics – CBC News

mdbincbi

The Liberal government announced Tuesday — in an item buried deep in its 367-page 2018 budget document — that some paper currency will no longer be accepted as legal tender. The $1000 bank note will no longer be legal tender, pending the introduction of legislative changes. The Bank of Canada will still accept the bills for an exchange. (Bank of Canada) While the Bank of Canada stopped printing the $1,000 note in 2000, there are still about 700,000 of those bills still in circulation across the country. As part of a plan…

Read More

Canadian Dollar Falls From 4-Month High After Trump Boosts U.S. Dollar – Business – CBC News

mdbincbi

The Canadian dollar retreated from a four-month high against the U.S. dollar on Thursday after comments from U.S. President Donald Trump boosted the greenback against most major currencies. During his first visit to the World Economic Forum in Davos, Switzerland, Trump stressed that he ultimately wanted to see a stronger U.S. dollar. The move comes on the back of comments made by Treasury Secretary Steven Mnuchin on Wednesday, when he said a weaker buck was good for American exporters.Those comments had sent the U.S. dollar to a three-year low against a basket of currencies. On Thursday, the…

Read More