By Commodity News Service Canada
WINNIPEG, September 18 – The Canadian dollar lost ground against its US counterpart on Monday, after written comments by Bank of Canada governor Timothy Lane were made public. Lane says the strong Canadian dollar “battered” export industries in the past decade. He adds the central bank will be playing attention to how the economy responds to higher interest rates.
Losses in gold and crude oil contributed to the downside.
Canadian bonds took strength from the BoC’s dovish position. The 10-year bond yield is 2.081% from 2.091%.
The Canadian dollar ended Monday at US$0.8171 cents or C$1.2238, compared to Friday’s North American close of
US$0.8209 or C$1.2182.
In Toronto, the S&P/TSX Composite Index rose by 63.64 points, or 0.42% to 15,236.67.
Canada’s agricultural sector performed as follows:
AGT Food and Ingredients—–up $ 0.80 at $ 26.98
Agrium Incorporated———-up $ 4.55 at $132.65
Buhler Industries————dn $ 0.04 at $ 4.45
Maple Leaf Foods————-up $ 0.02 at $ 33.90
Potash Corp. of Sask———up $ 0.79 at $ 23.59
(All figures are in Canadian dollars.)
