By Commodity News Service Canada
WINNIPEG, April 25 – The Canadian dollar closed weaker relative to the US dollar on Friday amid a lack of risk sentiment due to ongoing worries about political problems in Ukraine and Russia, analysts said.
The Canadian dollar closed at US$0.9061 or US$1=C$1.1036 on Friday, which compares with Thursday’s North American settlement of US$0.9068 or US$1=C$1.1028.
Spillover pressure from the declines seen in crude oil values was also bearish for the loonie, though strength in gold was supportive.
There was no significant Canadian economic data impacting the Canadian currency on Friday. Traders were looking ahead to the April 29 labour data and GDP figures due out on April 30.
Canadian bonds were higher, as investors were interested in safe-haven assets due to concerns about Ukraine’s political problems, brokers said.
The two-year bond yielded 1.064% late Friday, from 1.069% late Thursday. The 10-year bond yielded 2.410%, from 2.424%. Bond yields fall as their prices rise.
