Reuters: US Dollar Report: CANADA FX DEBT-C$ flat as investors watch U.S. budget battle

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CANADA FX DEBT-C$ flat as investors watch U.S. budget battle Sep 26th 2013, 14:09 Tweet Share this Email Print Related Topics Currencies » Bonds News » Bonds » Markets » Thu Sep 26, 2013 10:09am EDT * C$ at C$1.0313 versus US$ or 96.96 U.S. cents * U.S. government faces shutdown amid budget impasse * Bond prices lower By Solarina Ho TORONTO, Sept 26 (Reuters) - The Canadian dollar held steady against its U.S. counterpart on Thursday with investors focused on upcoming economic data and the budget impasse in Congress that threatens a U.S. government shutdown next week and a debt default. "Most currency markets are feeling very quiet as players reposition themselves and begin to shift into data-watching mode," said Camilla Sutton, chief currency strategist at Scotiabank, noting that the most important upcoming data will be U.S. employment figures a week from this Friday. "Globally, politics play an important role and when we have political gridlock in the U.S., there's a significant risk there going forward." The U.S. Congress, struggling to avert a government shutdown next week, was warned by the Obama administration on Wednesday that the Treasury was quickly running out of funds to pay government bills and could soon face a damaging debt default. The greenback struggled to make gains against a basket of currencies on Thursday. But the market also refrained from aggressively selling the U.S. dollar, which has rallied when past impasses were resolved as, on balance, this one is expected to be. The Canadian dollar was trading at C$1.0313, or 96.96 U.S. cents, at 9:39 a.m. (1339 GMT), exactly where it stood at Wednesday's North American close. Sutton said she expected he Canadian dollar, whose performance was mixed against other major currencies, to trade between C$1.0275 and C$1.0345 on Thursday. Prices for Canadian government bonds were lower. The two-year bond was off one Canadian cent to yield 1.217 percent. The benchmark 10-year bond slipped 12 Canadian cents to yield 2.590 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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