By Commodity News Service Canada
Winnipeg, August 26 – The Canadian dollar finished lower Wednesday in a thinly-traded market.
At 4:00 CDT Wednesday, the loonie was at US$0.7504 or US$1 = C$1.3326.
The loonie hit a multi-year low as volatility within the world’s markets kept traders guessing. The Canadian dollar did stay mostly range bound though from a chart perspective.
The loonie has started to decouple from its tight relationship with oil prices.
The absence of any major Canadian economic data this week has traders closely monitoring global financial conditions for direction, said participants.
Canadian bonds also finished lower, extending their losses for the second straight session.
Canada’s two-year bond yield was at 0.392% Wednesday, up from 0.356% late Tuesday, according to electronic trading platform CanDeal. The 10-year bond yield was at 1.441%, up from 1.334%. Bond yields move inversely to prices.
