By Commodity News Service Canada
WINNIPEG, June 13 – The Canadian dollar ended little changed relative to the US dollar on Friday. The lack of movement was linked to cautiousness ahead of the weekend, analysts said.
The Canadian dollar closed at US$0.9211 or US$1=C$1.0856 on Friday, which compares with Thursday’s North American settlement of US$0.9212 or US$1=C$1.0855.
Some support for the Canadian dollar came from a recent surge in crude oil prices due to worries about unrest in Iraq disrupting the supply chain.
On the other side, continued worries about slow economic growth in Canada, and the Bank of Canada’s ongoing dovish stance on the economy, were bearish, traders said.
Canadian bonds closed mixed, reacting to news from Bank of England Governor Mark Carney that interest rates in the UK could climb earlier than anticipated, brokers said.
The two-year bond yielded 1.089% late Friday, from 1.078% late Thursday. The 10-year bond yielded 2.308%, from 2.313%. Bond yields fall as their prices rise.
