NBC Daily Forex : September 09, 2013
The National Bank of Canada | Sep 09, 2014 08:53AM ET
The greenback enjoyed an excellent day yesterday, posting substantial gains against the most commonly traded currencies. It rose 0.86% on the day against the loonie, 1.36% against the pound sterling, 0.43% against the euro and 0.87% against the yen. Interest in the USD was due to speculation that recent positive economic indicators in the U.S. should spur the Fed to raise its key rate in 2015.
• Early this morning, Bank of England Governor Mark Carney indicated that the BoE would probably increase its key rate next spring. At a conference in Liverpool, he stated that growth in salaries and the economic recovery were gathering steam. The news came as little surprise, given that the U.K. has been one of the standout performers in the G7 in recent years. The current Bank of England key rate is 0.5%.
• This morning, we’ll be keeping an eye on August Housing Starts in Canada.
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