RTTN: Canadian Dollar Recoups From Recent Lows Versus Majors
(RTTNews) - The Canadian dollar recouped from recent downtrend against most major rivals following the speech from Federal Reserve Chairman Ben Bernanke in New York morning deals on Friday.
The Federal Reserve will consider further support for the sluggish U.S. economy at a two-day meeting in September, but has not committed to a third round of quantitative easing, the nation's top central banker said in a highly anticipated speech in Jackson Hole, Wyoming.
The loonie that touched 1-week lows of 77.21 against the Japanese yen and 0.9926 versus the US dollar at about 10:10 am ET, edged up thereafter and as of now worth 77.80 and 0.9858, respectively.
After touching a 3-day low of 1.4308 by about 9:45 am ET, the Canadian currency reversed its direction against the euro later and hit a high of 1.4178 as of 11:15 am ET. The pair is currently worth 1.4217.
