The Canadian dollar, according to JP Morgan Chase, is one of the worst performing currencies when huge volatility comes into the market like we have seen for the past week.
The Volatility Index, commonly known as the VIX, is a measure of how volatile investors think the markets might be in the short term, and in the midst of the carnage last Friday and into the early part of this week, the index spiked.
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The Canadian dollar tumbled in the same period, from a high of 81.5 cents last week to the current 79.5 cent level.
Also surprising to some is that gold, which is normally a safe haven, also lost ground during the market turmoil.
What could also affect the dollar in the next two days would be Thursday’s speech by Bank of Canada Deputy Governor Carolyn Wilkins, and the January jobs report Friday morning.