Forex | Forex | The Canadian dollar continued its rally against the US dollar (03/08/2009 06:17:16)

The Canadian dollar continued its rally against the US dollar

The US dollar weakened against most major currencies after data showed the US economy contracted at a slower than expected pace in the second quarter, boosting morale amongst investors that the recession may be moderating. However, a sharp drop in consumer spending dampened some of that sentiment, but not enough for investors to take a chance in riskier assets. Data from the National Association of Purchasing Management-Chicago business barometer rose to 43.4 from 39.9 in June, indicating an


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