Canadian dollar falls as investors shy away from risk

Economies.com
2021-12-17 16:42PM UTC

The Canadian dollar fell against most currencies on Friday, as investors shy away from risk assets, as focus returned to coronavirus pandemic.

 

The Fed kept the interest rate between zero and 0.25% unchanged, and to reduce asset purchases by $30 billion per month, starting in January, double of what was previously announced of $15 billion per month.

 

The European Central Bank reveled its plan to end the bond-purchasing program worth 1.85 trillion euros ($2.2 trillion) by the end of March, but decided to continue with the asset purchase program launched before the coronavirus pandemic.

 

The Bank of England surprised the markets after it decided to raise interest rates by 15 basis points to 0.25%, in the first time since the beginning of the pandemic.

 

As of 16:39 GMT, CAD/USD fell 0.4% to 0.7795, after hitting a high of 0.7831 and a low of 0.7785.

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