The Canadian dollar strengthened to an 11-day high against its US counterpart on Friday as the Bank of Canada's willingness to keep interest rates on hold in the face of economic uncertainty helped "anchor" the currency. The Bank of Canada has showed no appetite for cutting interest rates amid steady domestic activity, even as other central banks, including the Federal Reserve, have eased this year.
At 4:10 pm (2010 GMT), the Canadian dollar was trading 0.2% higher at 1.3243 to the greenback, or 75.51 US cents. The currency, which was up 0.1% for the week, touched its strongest intraday level since Sept. 16 at 1.3214. Canadian government bond prices were little changed across the yield curve, with the two-year flat to yield 1.575% and the 10-year rising 2 Canadian cents to yield 1.357%. On Wednesday, the 10-year yield touched its lowest intraday level in more than two weeks at 1.289%.
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