CANADA FX DEBT-C$ hits 1-wk high as greenback resumes selloff
* C$ rises to 98.24 U.S. cents
* Bond prices firm across the curve
* With G20 over, market focuses on coming FOMC meeting
TORONTO, Oct 25 (Reuters) - The Canadian dollar hit a one-week high against the greenback on Monday as a weekend meeting of Group of 20 leaders yielded few concrete policy measures on economic issues.
G20 finance ministers pledged on Saturday to move towards market-determined exchange rates and commit to a full range of policies to reduce excessive external imbalances. But no major policy initiatives emerged and the United States failed in an attempt to shrink China's surplus, which sent the U.S. currency broadly lower. [ID:nTOE69M004] [FRX/]
"We were left with a lot of comforting words as opposed to specific details. The market can move beyond that and focus in on next week's FOMC meeting as well as the election in the U.S.," said David Tulk, senior macro strategist at TD Securities.
"We're back to this pro-(quantitative easing) trade today where everything is stronger but the U.S. dollar."
At 9:15 a.m. (1315 GMT), the Canadian dollar CAD=D4 was at C$1.0179 to the U.S. dollar, or 98.24 U.S. cents, up from C$1.0269 to the U.S. dollar, or 97.38 U.S. cents, at Friday's close.
Canada's data calendar is empty until Friday when Statistics Canada releases August figures for GDP as well as producer price data for September.
But market participants expected trading would be fairly light all week ahead of the Nov. 2-3 meeting of the U.S. Federal Open Market Committee.
"People in the market have been looking forward to this FOMC meeting for a good number of months now. Waiting is the hardest part," said Tulk.
"It would take a lot to actually divert the market's attention in the intermediate days between now and the FOMC."
The policy-setting arm of the U.S. central bank is widely expected to announce another round of asset purchasing to help the anemic U.S. economy.
Canadian government bonds prices were higher, continuing on recent trend as markets anticipated further stimulus from the Fed.
The two-year bond CA2YT=RR rose 3 Canadian cents to yield 1.379 percent, while the 10-year bond CA10YT=RR was up 30 Canadian cents to yield 2.707 percent.
(Reporting by Ka Yan Ng, Editing by Chizu Nomiyama)
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