The U.S. dollar/Canadian dollar (USD/CAD) plunged to a nearly 15-year low at just under 1.13 in early March. But almost as soon as it did that, bullish forces seized control of the market and drove the pair as high as $1.1650 as of mid-March.
Is it another bounce or a sign of a real trend change? Dollar/Canada has been in a massive downtrend for more than four years. Some market watchers and currency analysts are saying the $1.13 level — which is as low as the Dollar/Canada rate has been since November 1991 — could be a formidable support zone for months to come. Before looking at what’s ahead for the Dollar/Canada, let’s examine the fundamental factors that allowed the Canadian dollar to appreciate significantly vs. the U.S. dollar in recent months.
Subscribe to:
Post Comments (Atom)
Post a Comment