Quote:
Originally Posted by Resolute 14
The CBC comments on this are hilarious. People whining that our economy is tied too closely to England if the Loonie went down as a result of this. well, yeah. Our strength is determined by price of oil, value of exports, and strength of rival currency. We're down vs USD for obvious reasons. But skyrocketing against the GBP.
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Pretty much this. The dollar is doing well against the Euro too.
When there's any uncertainty, everyone flocks back to the USD and to gold, and away from certain commodities, which causes a drop in the CAD relative to some currencies.
I suspect its a short term freak out, and once everyone realizes a Brexit will take years, things will normalize pretty quickly.