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Currency Traders Screw Canadian Dollar
Friday, January 24, 2002 - New York
Asked if the Prime Minister and Finance Minister have indicated to the markets that they are serious about seeing the Canadian dollar end its "roller-coaster to hell," New York Financiers were mixed in their reaction.
"Canada has its own dollar?" asked CFSB currency trader Alotta Mullah, "I thought they were using Euros now."
"What's a Canada?" responded Noda Lars at the Citicorp Trading Desk.
"We feel the Canadian peso is on a long term downward spiral, and kind of think its funny," said Jalla Vagi of Salmon-Smith-Barney.
Dounda Drane of HBSC Currency was more frank when she said "Ever since the Toronto Blue Jays won the World Series two years in a row, I have hated Canada. So, I've been trying to screw their crappy dollar for years."
Meanwhile Canadian financial analysts suggest the Finance Minister's recent comments should help the dollar recover somewhat in the coming weeks.
