The Canadian dollar strengthened on Wednesday, climbing back above 80 US cents as the greenback retreated from recent gains because of lowered expectations of aggressive US rate hikes. Domestic bond were little changed on the short end, but the 30-year note fell hard after the US government said it might start reissuing its 30-year treasury. The currency finished at C$1.2460 to the US dollar, or 80.26 US cents, up from C$1.2521 to the US dollar, or 79.87 US cents, at Tuesday's close.
"The US dollar has made some decent gains over the last few sessions and I think, at that level, unless you think it's going to head towards C$1.27-C$1.28, your appetite for the US is going to change," said Tim Mazanec director of foreign exchange at Investors Bank and Trust in Boston.
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