The Canadian dollar steadied against its US counterpart on Thursday after reaching a seven-week high the day before, as ebbing worries of a clash between the US and Russia over Syria boosted the greenback. The US dollar rose against a basket of major currencies, snapping a four-day losing streak.
At 5 pm EDT (2100 GMT), the Canadian dollar was trading 0.1 percent lower at C$1.2589 to the greenback, or 79.43 US cents. The currency traded in a range of C$1.2566 to C$1.2623. It touched on Wednesday its strongest since February 19 at C$1.2545.
Canadian government bond prices were lower across the yield curve in sympathy with US Treasuries as demand for safe-haven assets faded. The two-year fell 7.5 Canadian cents to yield 1.898 percent and the 10-year declined 63 Canadian cents to yield 2.285 percent, its highest since March 21.
"The Canadian dollar is holding up quite well," said Shaun Osborne, chief currency strategist at Scotiabank. "We still think we'll get to 1.25 in the next couple of weeks."
Comments
Comments are closed.