Reuters: US Dollar Report: CANADA FX DEBT-C$ rises as Fed expected to expand stimulus

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CANADA FX DEBT-C$ rises as Fed expected to expand stimulus Dec 12th 2012, 12:58 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Wed Dec 12, 2012 7:58am EST * C$ at C$0.9858 to US$, or $1.0144 * U.S. Fed expected to provide further monetary stimulus By Alastair Sharp TORONTO, Dec 12 (Reuters) - The Canadian dollar firmed slightly on Wednesday as investors turned their focus to the end of a U.S. Federal Reserve meeting and an expected announcement of further monetary stimulus. Markets expect the Fed to expand its current asset purchase scheme, committing to buy $45 billion of U.S. debt and extend its purchases of mortgage-backed debt to help sustain the fragile U.S. economic recovery. "All the risk currencies are performing well today," said Adam Cole, global head of FX strategy at Royal Bank of Canada. "It's a risk-on day generally....expectations for the Fed are probably behind that to a degree." Oil, gold and copper prices were all higher, at least in part on hopes for Fed action. At 7:44 a.m. (1244 GMT) the Canadian dollar was trading at C$0.9858 to the greenback, or $1.0144, compared with C$0.9862, or $1.0140, at Tuesday's North American close. The Canadian dollar was underperforming other resource-linked currencies including the Australian and New Zealand dollars, as well as the euro and British pound. Canadian government debt prices were lower across the curve, with the two-year bond off 2 Canadian cents to yield 1.087 percent, while the benchmark 10-year bond fell 14 Canadian cents to yield 1.745 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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