The Canadian Dollar Exchange Rate was in the region of 0.7393 against the Euro as of 15:20 pm
Political upheaval in the Eurozone has allowed the Canadian Dollar to achieve its most significant gain against the Euro for three weeks.
Spanish newspapers have reported that the nation’s Prime Minister Mariano Rajoy, who had to deal with numerous protests last year in response to his extreme austerity measures, has been accepting illegal cash payments. Now own cash-strapped populace are hearing the opposition demand his resignation.
Although Rajoy asserted: ‘It’s false, I have never received or shared out illegal payments within the party or anywhere else’ the newspaper which first published the accusations claims to have handwritten evidence of the fact.
Meanwhile, in Italy current Prime Minister Mario Monti is rapidly losing popularity and formally ousted Italian Premier Silvio Berlusconi is coming to the forefront once more. The front runner for the top job remains Pier Luigi Bersani, a man currently appealing a tax fraud conviction.
Today Monti made his feelings regarding his predecessor clear as he argued: ‘Berlusconi wants to buy the votes of Italians with the money that Italians had to turn over to cover up the shortfall left in the public accounts by Berlusconi, who governed for eight of the past ten years’.
The political uncertainty dogging the Eurozone’s third and fourth largest economies caused Spanish and Italian bonds to fall, weakening the Euro and allowing the Canadian Dollar to gain 0.6 per cent.
The ‘Loonie’ was little changed against the US Dollar.
As one FX expert explained it: ‘Euro is off the highs which is contributing to some selling of … Euro/Canadian Dollar. The market by and large is somewhat more neutral on the Canadian Dollar now, rather than being overly bullish or bearish.’
Current Canadian Dollar Exchange Rates
The Canadian Dollar to Euro exchange rate is currently trading at 0.7393
The Canadian Dollar to Pound Sterling exchange rate is currently trading at 0.6369
The Canadian Dollar to US Dollar exchange rate is currently trading at 1.0024
The Canadian Dollar to Australian Dollar exchange rate is currently trading at 0.9614
The Canadian Dollar to New Zealand Dollar exchange rate is currently trading at 1.1876
The Canadian Dollar to Emirati Dirham exchange rate is currently trading at 3.6848
The Canadian Dollar to Swiss Franc is currently trading at 0.9112
The Canadian Dollar to Japanese Yen exchange rate is currently trading at 92.8836
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