The Canadian dollar slumped to a six-week low against its US counterpart on Friday before paring its decline, as a sell-off in global stock markets offset the boost the loonie got earlier in the week from a Bank of Canada interest rate hike.
Stock markets around the world fell as better-than-expected US economic data did little to ease anxiety over disappointing corporate profits and trade wars. At 3:46 p.m. (1946 GMT), the Canadian dollar was trading 0.1 percent lower at 1.3082 to the greenback, or 76.44 US cents. The currency touched its weakest intraday level since September 11 at 1.3160.
For the week, the loonie was up 0.1 percent. Canadian government bond prices were higher across the yield curve in sympathy with US Treasuries, as the sell-off in stocks boosted demand for safe-haven government debt. The two-year rose 9 Canadian cents to yield 2.266 percent and the 10-year climbed 51 Canadian cents to yield 2.391 percent.
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