CANADA FX DEBT-C$ little changed vs US$; heading for weekly fall
* C$ at C$1.0242 vs US$, or 97.65 U.S. cents * Cyprus news pushes currency weaker, later recovers * C$ likely stuck in C$1.02 - C$1.03 range without catalysts By Alastair Sharp TORONTO, March 22 (Reuters) - The Canadian dollar was little changed versus its U.S. counterpart on Friday after a choppy overnight session dominated by news from Europe on Cyprus' search for a bailout to stave off bankruptcy. The currency is on track for a 0.4 percent weekly slip against the greenback, which continues to benefit from signs of economic recovery and its attraction for safe haven flows. "The bias is going to be to sell Canadian dollar," said John Curran, senior vice president at CanadianForex. "That was seen yesterday down around the C$1.02 area, you get anywhere close to the C$1.01 handle and people are going to be happy to sell Canada." At 9:21 a.m. (1321 GMT) the Canadian dollar was trading at C$1.0242 to the greenback, or 97.65 U.S. cents, just up from its C$1.0243, or 97.63 U.S. cents, close on Thursday. Russia rebuffed Cypriot entreaties for aid on Friday, leaving the island's increasingly isolated leaders scrambling to strike a bailout deal with the European Union by next week or face the collapse of its financial system. The loonie strengthened against the Aussie after hitting its weakest level in more than a year on Thursday, but was weaker against the euro and the Swiss franc . Prices for Canadian government debt were broadly but marginally lower, with the two-year bond off a Canadian cent to yield 0.988 percent and the benchmark 10-year bond slipping 4 Canadian cents to yield 1.820 percent.
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