What’s Behind the Sell-Off in USD/CAD?
January 28, 2009 at 09:54 AM EST
The biggest mover this morning is the Canadian dollar which has rallied close to 300 pips against the US dollar and is closing in on the 1.20 level. What’s behind the move? 1. Major merger and acquisition flow. Mexican breadmaker Bimbo closed on a $2.38 billion acquisition of U.S. Bread making unit of Canada’s George Weston [...]
