The Canadian dollar reached new highs

Canadian dollar today shows very good results, and, as noted currency analysts BMO Capital Markets, the status of commodity currencies is in the process, not the least role. Strengthening the Canadian dollar against other commodity currencies is not very significant, but relative to other currencies, the Canadian dollar has grown quite well - from 0.2% to 1.0%. As a pair of dollar / Canada, today it finally dropped below the recent low of 1.0590. Meanwhile, analysts TD Securities noted that the decline in dollar / Canada to new lows in 2009 threatened a key short-term area of support 1.0550/60. The bank believes that the breakthrough this area will demonstrate the readiness of the market to reach new lows for the pair, while the bank did not rule out the fall of the dollar / Canada in the 2008 range 0.9800 - 1.0300 in the next one to three months. At the moment pair dollar / Canada is trading at 1.0567.