I told you so…
Just kidding, but I wrote a while back that in today’s world the Bank of Canada has little effect on the Canadian Dollar. Here is an example.
Yesterday the Dollar was really strong and starting to rebound from the small dip it took because the Bank of Canada dropped interest rates. This was caused by the fact that the US federal reserve announced plans to cut their rates again due to reports that their Trade deficit increased in October.
On a side note Canada’s trade SURPLUS increased in October. Just another solid sign that our economy is much stronger then our US friends.
