By Commodity News Service Canada
WINNIPEG, June 26 – The Canadian dollar was holding relatively steady against the US dollar, as traders were being cautious ahead of the weekend and as they await fresh news out of Greece.
Meetings were ongoing on Friday between officials from Greece and other European countries, as they have until Tuesday to finalize a deal to help bail Greece out of its poor economic situation.
The Canadian dollar closed at US$0.8120 or US$1=C$1.2315 on Friday, which compares with Thursday’s North American settlement of US$0.8115 or US$1=C$1.2323.
Strength in gold prices provided some support for the Canadian dollar, though ongoing weakness in crude oil was bearish.
Canadian bonds closed lower on Friday, following the US Treasury market and reacting to optimism that Greece will make a deal to avoid defaulting its debt, brokers said.
The two-year bond yielded 0.635% Friday, from 0.620% Thursday. The 10-year bond yield was at 1.871%, from 1.815%. Bond yields rise as their prices fall.
