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Canadian dollar breaks below 1.21, BoC next Posted 2 hours agoSharePrint The Canadian dollar is in positive territory on Wednesday. In the European session, USD/CAD is trading at 1.2081, down 0.26% on the day. Canada’s employment picture darkened last week, as the economy showed a loss of jobs for a second straight month. The loss of 68.0 thousand in May follows a dismal April employment report, which posted a reading of -207.1 thousand. The May release missed the forecast of -23.5 thousand. As well, the unemployment rate ticked higher to 8.2%, up from 8.1%. Canada is still grappling with Covid-19, and the vaccine rollout is lagging well behind other major economies, such as the US or the UK. This means the reopening of the economy is still some time away.

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