Forex

Canadian dollar steadies after BoC Governor's remarks

2020-02-14 20:24:35 GMT (Economies.com)

Loonie steadied against the US dollar today, following Bank of Canada Governor Stephen Poloz' comments.

 

Poloz expressed his optimism about the Canadian economic growth despite the global risks, especially the coronavirus outbreak in China and its spread to other countries.

 

The Governor stated that the Canadian economy is doing well, adding that the BoC wouldn't have to cut the interest rates further if it wasn't for the monetary stimulus.

 

Meanwhile, the Chinese government revealed that the coronavirus death toll rose to 1,400 people, and over 60,000 infected cases.

 

Following some countries announcements of additional deceased and infected cases, as Japan revealed yesterday its first death.

 

CAD/USD held at 0.7546 as of 17:56 GMT, after the pair hit a high of 0.756 and a low of 0.7531.

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