because the Canadian Federal Reserve dropped their cash rate to 0.25% in the best interests of their economy where the RBA had to raise cash rates to 4.5% to accomodate the inflation pressures of an ill conceived Australian Government stimulus during a recession we never had.
When things got going again the higher RBA cash rate offered the highest yield for OS currencies wanting to park their cash and put buying pressure on AUD and got up to 0.94USD buys 1AUD. (overheated)
RBA have changed their 'rhetoric' to a neutral bias with cash rate which is a clear message that AUD has topped. Which is evidenced by the sellout which is occuring as we speak to 84c. Westpac business confidence figures are down. Possible super tax on mining sees Australian investment as RISK = less people on the buy side of AUD.
CAD has a completely different fundamental base to all of the above even though they are a commodity based economy like we are.
