June 3, 2013 / 2:08 PM / 4 years ago

CANADA FX DEBT-C$ gains against US$, tracking riskier assets

2 Min Read

By Solarina Ho
    TORONTO, June 3 (Reuters) - The Canadian dollar recovered
marginally against the U.S. dollar on Monday after a choppy
session on Friday, as better-than-expected European data lifted
global prices of shares and oil from one-month lows.
    The greenback eased against a basket of currencies, while
the riskier commodities-linked currencies recovered some losses.
    Data released on Monday showed that a strong rise in new
orders helped British manufacturing grow at its fastest pace in
more than a year last month, while euro zone manufacturing
contracted again, albeit at a slightly slower pace.
  
    The Canadian currency was trading at C$1.0357
versus the U.S. dollar, or 96.55 U.S. cents at 9:32 a.m. (1332
GMT), marginally stronger than Friday's finish at C$1.0368, or
96.45 U.S. cents.
    The Canadian dollar, which was mostly stronger against other
major currencies on Monday, was expected to trade within last
week's range of around C$1.0290 and C$1.0420 in the near term,
with a dearth of data until Friday's North American employment
and payroll number.
    Prices for Canadian government debt were mostly lower across
the curve. The two-year bond slipped 2.6 Canadian
cents to yield 1.095 percent, while the benchmark 10-year bond
 fell 32 Canadian cents to yield 2.105 percent, its
highest yield since the start of May 2012.

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