The Canadian dollar extended its post-BoC slide against major rivals on Tuesday morning in New York. While holding the rate at 1 percent as widely expected, the Bank of Canada warned the nation's economic growth could slow through mid-2012.

The loonie reached 1.0642 against the aussie, the lowest level since May 1997. On the downside, 1.10 is seen as the next likely target level for the loonie. The pair is presently trading at 1.0634.

The Canadian dollar fell to an 8-week low of 1.4179 against the euro around 10:05 am ET. On the downside, the loonie may find target around the 1.42 level in the near-term. The euro-loonie pair is presently trading at 1.4135.

The Canadian currency also slipped to a 2-week low of 74.41 against the yen from previous session's 8-day high of 76.24. The loonie-yen pair is presently worth 74.74 with 74.30 seen as the next likely downside target level.

The loonie that advanced to a 5-week high of 0.9993 against the US dollar ahead of the rate decision retreated to a 5-day low of 1.0214 around 10:05 am ET. If the loonie weakens further, it may find target around the 1.0250 level. The pair is presently trading at 1.0160.

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