2 Min Read
* C$ breaks through parity, touches high of $1.002
* Bond prices fall as risk appetite returns to market
By Claire Sibonney
TORONTO, Oct 14 (Reuters) - The Canadian dollar pushed through parity against the U.S. dollar on Thursday for the first time since April, after Singapore unexpectedly tightened policy by letting its currency strengthen, hitting the greenback hard.
The U.S. dollar index hit the year's low and world stocks hit 2-year highs with investors seeing easier U.S. monetary policy driving a flight to high-yielding assets. [MKTS/GLOB]
In the middle of the European morning, the Canadian currency CAD=D4 touched a high of C$0.9980 against the U.S. dollar, or $1.002, its strongest level since April 26.
"We needed something more than the quantitative easing," said Matthew Strauss, senior currency strategist at RBC Capital Markets.
"The Singapore story ... highlighting the divergence in what's happening in the U.S. compared to what's happening in Asia and that resulted in some further U.S. selling." (Reporting by Claire Sibonney; Editing by Jeffrey Hodgson)