CANADA FX DEBT-C$ barely stronger after hitting 11-1/2-year trough

Mon Dec 14, 2015 4:56pm EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds strategist comment, details; updates prices)

* Canadian dollar settles at C$1.3738, or 72.79 U.S. cents

* Bond prices higher across the maturity curve

By Alastair Sharp

TORONTO, Dec 14 (Reuters) - The Canadian dollar strengthened slightly against its U.S. counterpart on Monday after hitting a fresh 11-1/2-year low as oil prices stumbled further.

While oil reversed course robustly later in the North American trading session, the Canadian currency was more circumspect.

"It seems there is a growing voice out there that has this $40-a-barrel price as a line in the sand where the Canadian dollar is punished on moves lower and yet doesn't necessarily rebound on moves higher," said Brad Schruder, director of foreign exchange sales at BMO Capital Markets.

Brent crude settled at $37.92 after falling as low as $36.33 a barrel, its weakest since December 2008, while U.S. crude settled up 1.9 percent at $36.31 after earlier falling to $34.53.

The Canadian dollar settled at C$1.3738 to the greenback, or 72.79 U.S. cents, barely stronger than Friday's close of C$1.3742, or 72.77 U.S. cents.   Continued...