USD/CAD: Little Favor for the Loonie Today

The US dollar could make some headway versus the Canadian currency after economic reports today showed weakness. The Loonie edged the Greenback in earlier trades on demand for risk, after yields on Spanish debt auction yielded higher after reaching above the top end of the target range. However, looming automatic government spending cuts in the US suggest the need for safety, while Building permits in Canada failed forecasts of a rebound in December…

Continue Reading...