Canadian Dollar testing six-month lows as growth risks weigh on BoC

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• The Canadian Dollar is falling back for the second day in a row as markets shy away from risk.
• BoC sees a period of negative growth over the horizon.
• Despite a weakening economy, BoC is hampered on policy by increasing inflation risks.
• USD/CAD reaches seven-month high on Wednesday.

The Canadian Dollar (CAD) is down once again on Wednesday, adding to yesterday’s declines and sending the USD/CAD back into the 1.2800 handle as the Bank of Canada (BoC) holds rates steady as markets broadly expected.