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Canadian Dollar Hits Lowest Since 2020 as Aussie Takes a Hit

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Strong Dollar Is Very Much Intact: UBP’s Villamin
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Foreign-exchange markets took a risk-averse turn Thursday, sending the Canadian dollar to its weakest against the greenback in almost two years and Australia’s currency close to the lowest since the early months of the Covid pandemic.

The US dollar-loonie pair rose as much as 0.6% to 1.3240, topping the mid-July level of 1.3224 that had been the highest since November 2020. The milestone comes amid a broad-based surge that’s seen the greenback hit multiyear peaks against most of its major peers in recent weeks. The Aussie slid 0.8% to a low of $0.6696 Thursday, close to the $0.6682 level it reached in July that was the weakest since the first half of 2020.