09 Jan Loonie continues to fall amid disappointing job data
The loonie has tumbled by 3.4 cents since November of 2014 as currency traders expect the low oil and energy prices will push back the timing of an interest-rate increase by the Bank of Canada. In addition to the unfavorable oil prices, concerns about the Canadian economy is only expected to further drive down the price of the Canadian Loonie.
Currently the Canadian Dollar has tumbled beyond $1.17 per US dollar. Those looking to sell their US dollar may want to hold on as some predictions are there for the price to tumble down to $1.22 US dollar.
Royal bank of Canada says it will probably cut their predictions of the loonie from $1.18 to $1.22 US dollar by the 2016.
The loonie has fallen more than 16% versus the US dollar in the past two years as the Canadian economic outlook has dimmed.
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