By Commodity News Service Canada
WINNIPEG, June 16 – The Canadian dollar ended firmer relative to the US dollar on Monday, following the rise seen in commodity values.
Commodities, crude oil in particular, jumped higher on Monday due to worries about political problems and violence in Iraq disrupting the oil supply chain, analysts said.
The Canadian dollar closed at US$0.9224 or US$1=C$1.0856 on Monday, which compares with Friday’s North American settlement of US$0.9211 or US$1=C$1.0856.
The evening of positions ahead of US consumer price data and the beginning of a two-day US Federal Reserve policy meeting on Tuesday, was a feature of the activity.
Canadian bonds closed mixed on Monday amid positioning ahead of the US Federal Reserve meeting later this week, traders said.
The two-year bond yielded 1.100% late Monday, from 1.092% late Friday. The 10-year bond yielded 2.292%, from 2.313%. Bond yields fall as their prices rise.
