Canadian Dollar up after Bank of Canada Statement
The Canadian dollar continued to rise on Wednesday after the Bank of Canada signalled that interest rates could rise as early as June. The Canadian dollar has seen a big rise against the yen, up nearly 11% since late February and gained another 0.3% during the session, ending at 93.62 yen.
The US dollar also saw a sizeable fall against the Canadian dollar, down 0.5% on the day and finishing at its lowest level since June 2008.
Elsewhere the Australian dollar, boosted by a 1.7% gain against the yen on Tuesday continued rising, ending the session at 86.97 yen, while the euro struggled to make up any ground, ending at 125.28 yen with almost no movement.