CANADA FX DEBT-Canadian dollar firmer, focus on Europe

Tue Jun 12, 2012 9:17am EDT
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* Firms to C$1.0280 against US$, or 97.28 U.S. cents
    * Rises with North American equity futures

    By Allison Martell	
    TORONTO, June 12 (Reuters) - Canada's dollar firmed against
its U.S. counterpart on Tuesday, mirroring gains in North
American equity futures, even though investors remained wary
about Sunday's Greek elections and the impact of Europe's plan
to bail out Spanish banks.	
    Both Canadian and U.S. stock index futures rose, indicating
stocks would open higher, paring some of the heavy losses seen
on Monday.  	
    "Risk currencies are trading marginally better against their
safe haven counterparts, but I think that doesn't necessarily
speak to a larger trend. I think it's really just a
consolidation move," said Greg Moore, foreign exchange
strategist at TD Securities.	
    At around 8:45 a.m. (1245 GMT), the Canadian dollar was at
C$1.0280 against the U.S. currency, or 97.28 U.S. cents,
compared with Monday's close at C$1.0312, or 96.97 U.S. cents.	
    With no major Canadian data set for release on Tuesday,
investors were expected to look to Europe for market guidance.	
    Canadian bond markets were mostly lower across the curve.
Canada's two-year bond fell 5 Canadian cents to yield
1.022 percent, while the benchmark 10-year bond 
dropped 42 cents to yield 1.805 percent.