Reuters: US Dollar Report: CANADA FX DEBT-C$ steady ahead of U.S. Fed, ECB

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CANADA FX DEBT-C$ steady ahead of U.S. Fed, ECB Aug 1st 2012, 11:57 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Wed Aug 1, 2012 7:57am EDT * C$ at C$1.0017 vs US$, or 99.83 U.S. cents * Earlier, C$ touches C$1.0003 or 99.97 U.S. cents * Bond prices slip across the curve By Jennifer Kwan TORONTO, Aug 1 (Reuters) - The Canadian dollar held on to gains against its U.S. counterpart on Wednesday as investors braced for any soothing words from the U.S. Federal Reserve and the European Central Bank they will take action to prop up their economies. The U.S. central bank is likely to show on Wednesday that it is ready to act to support a weakening U.S. economy but stop short of aggressive measures for now. "I think the market is just consolidating ahead of the FOMC announcement this afternoon. The U.S. dollar is generally softer and risk is relatively well bid heading into the announcement on the hope that the Fed delivers some sort of additional easing measures," said Matt Perrier, a director of foreign exchange sales at BMO Capital Markets. At around 7:40 a.m. (1140 GMT), the Canadian dollar was at C$1.0017 against the greenback, or 99.83 U.S. cents, a little higher than Tuesday's North American finish at C$1.0029 against the greenback, or 99.71 U.S. cents. The currency added roughly 1 percent for July. Investors are also focused on the ECB's Thursday meeting to see how it plans to make good on promises by its president, Mario Draghi, to preserve the euro. Canadian bond prices slipped across the curve with the two-year bond off 1 Canadian cent to yield 1.081 percent, and the benchmark 10-year bond down by 12 Canadian cents to yield 1.689 percent. Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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