Canadian Dollar Has Worst Weeks in Months on Market Sentiment

Canadian Dollar Has Worst Weeks in Months on Market Sentiment

After witnessing a strong rally fueled by an uprise in oil rates due to unrests in Middle East and general risk appetite among traders, the loonie declined versus most of its counterparts as this week's scenario hasn't been so positive for the Canadian currecy.

The Canadian currency declined for a third consecutive day yesterday during the North American market hours and is poised to continue its downfall today as the oil, one of the countries major exports declines, followed also by a strong sentiment of risk aversion triggered by Japan's quake and its financial consequences.

Source: Canadian Dollar Has Worst Weeks in Months on Market Sentiment