CANADA FX DEBT-Canada dollar rises slightly in tight range

Mon Jun 13, 2011 9:50am EDT
 
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* C$ up at C$0.9768 to the U.S. dollar, or $1.0238

* Bond prices slip

TORONTO, June 13 (Reuters) - Canada's dollar was firmer against the greenback on Monday morning but hemmed into a tight range by a lack of economic data and softer resource prices.

Canadian government bond prices were lower as investors appeared ready to buy back into the stock market after it hit a six-month low on Friday.

The Canadian dollar traded between C$0.9752 and C$0.9799, tighter than last week's range of C$0.9711 and C$0.9803.

"We haven't seen a lot of volatility generally today, just a slightly softer U.S. dollar and Canada is holding up very well," Camilla Sutton, chief currency strategist at Scotia Capital.

"It's really within the same range it's been in for quite some time."

Commodity prices offered no catalyst for Canadian dollar movement. Prices for oil -- one of Canada's big exports -- was down by about 1 percent.

The currency has closed on both sides of its 100-day moving average at C$0.9740 to the U.S. dollar in the recent sessions, so this technical level has a little less importance than it otherwise might have, Sutton said.   Continued...