The Loonie to Roar Out of Hibernation
Let's face it: The Canadian dollar has been as dull as dishwater for the past several months. Since traders are often drawn to volatility -- sometimes to their detriment -- interest has waned in the currency. The loonie, nicknamed after the bird featured on the back of Canada's one-dollar coin, has been trapped in a tight range for months. But all of that might be about to change.
Yesterday, the Canadian dollar popped as a statement from the Bank of Canada indicated that interest rates might be lifted very soon. "In light of the reduced slack in the economy and firmer underlying inflation, some modest withdrawal of the present considerable monetary policy stimulus may become appropriate, consistent with achieving the 2% inflation target over the medium term," the central bank said in a statement....499 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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