The Canadian dollar gained today, reaching parity with the US currency for the first time since April, on the rally of the commodity prices and as Canada expected to be the first nation among the Group of Seven to balance its budget.
The weakness of the US currency itself also helped the loonie to reach parity. The meeting of Canada’s central bank policy makers on October 19th should has great impact on the moves of the Canadian currency, as on this meeting the interest rates will be set. The analysts expect the rates to remain unchanged at 1.0 percent.
USD/CAD opened at 1.0032 and dropped to 0.9978, below 1.00 got the first time since April 27th, before rebounding to 1.0025 as of 13:23 GMT today.
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