By Commodity News Service Canada
Winnipeg – January 29/13 – CNS – The Canadian dollar was
trading at a slightly firmer level versus the US currency in late
North American activity on Tuesday. The upswing in the value of
the Canadian unit came about as investors were willing to take a
bit of a chance on riskier assets, market watchers said.
The Canadian currency late in the afternoon was quoted at
C$1.0017 (99.83 US cents). This compares with Monday’s late North
American quote of C$1.0065 (99.35 US cents).
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Some of the Activity in the Canadian unit was viewed as
consolidative in nature.
The strength in the Canadian dollar was also associated with
technicals with the currency seen as undervalued and in need of a
correction, brokers said.
Strength in global crude oil futures also helped to
influence some of the firmness.
Canadian bonds finished with losses across the yield curve
on Tuesday with the declines linked to investors unloading safe-
have positions in favour of riskier assets, market watchers said.
Canada’s two-year bond yield was at 1.162% late Tuesday,
from 1.157% late Monday. The 10-year bond yielded 1.990%, from
1.965%. Bond yields move inversely to bond prices.
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