By Commodity News Service Canada
Winnipeg, April 21 – The Canadian dollar slumped on Tuesday as investors focused on the safety of the American greenback amid global economic woes, analysts say.
At 3:55 CDT Tuesday, the loonie was at US$0.8141 or US$1 = C$1.2283 as the Canadian government released its budget for the 2015-16 fiscal year.
As promised, the federal government unveiled a balanced budget that actually featured a surplus of C$1.4 billion.
The US dollar continued to stay firm against other world currencies Tuesday. Ongoing concerns about the political situation in Greece and the country’s financial direction drew investors towards the greenback.
The Canadian dollar largely underperformed against its global counterparts, said an analyst.
Canadian bonds were lower in subdued trading, said analysts. Canada’s two-year bond yield was at 0.645% per cent, in comparison with 0.643 per cent on Monday. The 10-year bond yielded 1.450 per cent from 1.422 per cent.
