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Sunday, July 26, 2009

Canadian Forex Midday: C$ Softens.

WINNIPEG, MB, Mar 17, 2008 (Resource News International via COMTEX) -- The Canadian dollar was trading at a significantly softer level versus the US dollar at midday on Monday. Concern about the health of the US economy weighed heavily on the Canadian currency as did losses in global equity markets, currency analysts said.

Efforts by the US Federal Reserve over the weekend to boost market liquidity did little to calm fears of a US recession or to lessen risk aversion among currency traders.

Existing concerns about the US economy were heightened Monday by news that Bear Stearns, the fifth largest US investment bank, will be purchased by rival JP Morgan Chase at US$2 per share, or roughly US$270-million....
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