Loonie falls to greenback in currency trading
Many currencies have been seeing success against the U.S. dollar in recent weeks on the FX market. The Canadian dollar, however, is not one of the currencies doing well in forex trading against the greenback. The loonie is struggling, as economic factors continue to pummel the currency on the FX market.
The economic forecast for Canada isn’t that great, with spending, employment and construction all shrinking. Indeed, faced with continued economic weakness, Canada is going to join the ranks of countries engaged in quantitative easing. Of course, this decision is only creating more problems for the Canadian dollar in forex trading.
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