June 20, 2011 / 12:22 PM / 9 years ago

CANADA FX DEBT-C$ edges lower, bonds up, on Greece loan delay

 * C$ edges down C$0.9839 to the U.S. dollar, or $1.0164
 * Bond prices head higher across curve
 * With no Canadian data, trading driven by Greece news
 TORONTO, June 20 (Reuters) - Canada's dollar CAD=D4
drifted lower in early dealings on Monday while bond prices
rose as a delay on further loans for Greece prompted a flight
to safety.
 With no North American data due for release, the currency
was left to seek direction from global equity and commodity
markets, which were under pressure from little movement over
the weekend regarding Greece's debt troubles. [MKTS/GLOB]
 Euro zone finance ministers delayed a final decision to
July on extending another 12 billion euros in emergency loans
to Greece, saying Athens would first have to introduce harsh
austerity measures. For details, see [ID:nLDE75I0FM]
 "Fundamentals are taking a back seat right now in Canada
and the focus will pretty much be on external events, mostly
from Europe this week," said Kam Bath, fixed income strategist,
at RBC Capital Markets.
 At 8 a.m. (1200 GMT), the currency was at C$0.9839 to the
U.S. dollar, or $1.0164, down from C$0.9802 to the U.S. dollar,
or $1.0202, at Friday's close.
 The two-year bond CA2YT=RR edged up 1 Canadian cent to
yield 1.488 percent, while the 10-year bond CA10YT=RR climbed
25 Canadian cents to yield 2.917 percent.
  (Reporting by Ka Yan Ng; editing by Jeffrey Benkoe)

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