Reuters: US Dollar Report: CANADA FX DEBT-C$ hits one-month high helped by brighter equity outlook

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CANADA FX DEBT-C$ hits one-month high helped by brighter equity outlook Apr 2nd 2013, 13:30 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Tue Apr 2, 2013 9:30am EDT * C$ at C$1.0132 or 98.70 U.S. cents * Equity outlook gives boost to Canadian dollar * Broad U.S. dollar weakness helps By Alastair Sharp TORONTO, April 2 (Reuters) - The Canadian dollar strengthened to a one-month high against its U.S. counterpart on Tuesday, benefiting from a brighter outlook for North American equities and a weaker greenback hurt by lackluster U.S. factory data. The loonie, as Canada's currency is colloquially known, pushed through a recent tight range between C$1.02 and C$1.0140, as did its commodity-linked cousins the Australia and New Zealand dollars, the latter hitting a six-week high. "It's more U.S. dollar weakness than Canadian dollar strength, I would say," said Adam Cole, global head of foreign exchange strategy at Royal Bank of Canada. "The fact that equities are doing better is also helping." U.S. stock futures point to a higher start, which puts the S&P 500 within striking distance of its all-time intraday high. Canadian stocks were also set to opener higher. At 9:13 a.m. (1313 GMT) the Canadian dollar was trading at C$1.0132 to the greenback, or 98.70 U.S. cents, compared with C$1.0167, or 98.36 U.S. cents, at Monday's North American close. That was its highest level since Feb. 20. The price of Canadian government debt was lower across the curve, with the two-year bond off 2 Canadian cents to yield 1.002 percent, and the benchmark 10-year bond falling 10 Canadian cents to yield 1.858 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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