Loonie Weakens

By Ketki Saxena Investing.com – The weakened against its US counterpart today, as risk-off sentiment dominated markets ahead of a speech by the Federal Reserve chair. Following Friday’s more than robust US non-farm payrolls data, investors are raising bets on the prospect of a more aggressive Federal Reserve after last week’s red-hot jobs report.

By Ketki Saxena Investing.com -- The continued to weaken against its US counterpart today, as sentiment remained downbeat following a hawkish outlook from the Federal Reserve at its monetary policy announcement on Wednesday, and subsequent rate-hikes from global central banks. The commodity-linked loonie was also pressured by a slide in crude prices on worries of demand destruction driven by the central bank's aggressiveness, and mounting COVID-19 cases and rising fatalities in China.