Loonie Caught Between BoC & Ottawa

Just as the Canadian dollar was suffering losses from Canadas rejection of Malaysian-owned Petronas takeover bid of Progress Energy Resources, the currency gets a sudden lift from todays Bank of Canadas policy statement indicating: some modest withdrawal of monetary policy stimulus will likely be required. But knee-jerk reactions to central bank statements are typical ... and the reaction to the above statement was premature. Read more: http://www.cityindex.co.uk/market-analysis/market-news/1151752012/loonie-caught-between-boc-government/