It was too good to be true for the loonie. With commodities under pressure it has been somewhat of an aberration to see commodity and interest rate sensitive currencies like the AUD, NZD and CAD holding it together for so long. While gold, crude, and other natural resources have been taking a beating, the actions of Central Bank reserve diversification for a time has been providing a bid for these currencies in particular. For some time, global investors have been merely liquidating some of their Euro holding and have sought sanctuary in the AUD, CAD and NZD – hence the bid of late. However, some good things do come ... (full story)