By Commodity News Service Canada
WINNIPEG, June 27 – The Canadian dollar was up sharply against the US dollar on Friday, seeing some follow-through buying on recent gains, analysts said.
The Canadian dollar closed at US$0.9380 or US$1=C$1.0661 on Friday, which compares with Thursday’s North American settlement of US$0.9352 or US$1=C$1.0693.
Concerns about slowing economic growth in the United States also helped to underpin the value of the Canadian dollar.
However, a softer tone in commodity prices, such as crude oil, gold and copper, tempered its upside potential.
Canadian bonds closed slightly lower on Friday, amid profit taking ahead of the weekend, traders said.
The two-year bond yielded 1.118% late Friday, from 1.109% late Thursday. The 10-year bond yielded 2.243%, from 2.238%. Bond yields fall as their prices rise.
