Take a quick glance at the performance of the three, liquid carry (or investment) currencies from this past week. The New Zealand dollar was the clear outperformer. Up next was the mixed performance of the Australian dollar. And, in a distant third place was the Canadian currency. Not only did the loonie fade in the face of its fellow commodity currencies, but it struggled against the European currencies and put in for limited gains against the safe haven counterparts. As long as the risk appetite drive is strong, the Canadian dollar will keep its bearing and may even put some heat on the move. Yet, when the unit has to stand on its own, its exceptionally low yield keeps the it anchored to the greenback.
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