CANADA FX DEBT-Swine flu worries weigh on C$; bonds up

Mon Apr 27, 2009 9:47am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* C$ touches low of 82.04 U.S. cents

* Threat of swine flu knocks equity markets

* Bond prices higher as equities weak

(Adds details, quote)

TORONTO, April 27 (Reuters) - Canada's currency traded little changed to weaker on Monday as concerns about swine flu raised risk aversion and sent investors into the U.S. dollar, which is considered a safer bet in times of uncertainty.

The threat of a flu pandemic created new concerns about the state of the global economy as the virus, which has killed more than 100 people in Mexico spread throughout North America and was confirmed to have reached Europe. [ID:nN27484099]

The Canadian currency dropped as low as C$1.2189 to the U.S. dollar, or 82.04 U.S. cents before rebounding.

At 9:22 a.m. (1322 GMT), the Canadian unit was little changed at C$1.2099 to the U.S. dollar, or 82.65 U.S. cents, down slightly from Friday's close of C$1.2097 to the U.S. dollar, or 82.67 U.S. cents.

"For a change it's not the financial markets or the economic crisis that's weighing on the market, but it's the pig flu concerns that is weighing on sentiment," said Matthew Strauss, senior currency strategist at RBC Capital Markets.   Continued...