Like the Pound, the Canadian continues to suffer from deteriorating global economic prospects. However, the Canadian is also seeing ongoing pressure from overt strength in the Dollar and perhaps the currency is also seeing residual pressure from fears of even lower energy prices ahead. One might alsosuggest that periodic broad based selling in a host of commodities this week is adding into the downward tilt in theCanadian Dollar. The violation of the 91.00 level overnight would seem to project a near term slide to at least90.81.
