By Commodity News Service Canada
WINNIPEG, April 14 – The Canadian dollar moved higher relative to the US dollar on Monday, seeing a correction following recent losses, analysts said.
The Canadian dollar closed at US$0.9130 or US$1=C$1.0953 on Monday, which compares with Friday’s North American settlement of US$0.9108 or US$1=C$1.0979.
Spillover support from the gains seen in gold prices helped to underpin the value of the Canadian dollar, while weakness in crude oil prices was bearish.
There was no significant Canadian economic news or data moving the market on Monday. Traders were said to be squaring positions ahead of Wednesday’s Bank of Canada policy announcement, where interest rates are expected to hold steady at one per cent.
Canadian bonds ended mixed amid positioning ahead of Wednesday’s policy announcement from the Bank of Canada, brokers said.
The two-year bond yielded 1.051% late Monday, from 1.048% late Friday. The 10-year bond yielded 2.410%, from
2.401%. Bond yields fall as their prices rise.
