Canadian dollar hits parity as greenback falls to record low
Jamie McGee, Bloomberg
Published: Tuesday, July 15, 2008
Related Topics
Business
Canadian Markets
Matt Perrier
Story Tools
-+ Change font size
Print this story
E-Mail this story
Share This Story
Facebook
Digg
Stumble Upon
More
Story tools presented by
Canada’s dollar rose and traded equal to its U.S. counterpart for the first time in six weeks on increased risk aversion as the U.S. currency fell to a record low versus the euro.
The Canadian dollar gained the most in almost two weeks.
“The U.S. dollar has been sold across the board,” said Matt Perrier, a director of foreign exchange at BMO Capital Markets in Toronto. “There is renewed risk aversion with what’s going on with financials. Stock futures are down.”
Canada’s dollar gained 0.8% to $1.0019 at 8 a.m. in Toronto, from C$1.0064 Monday. The currency strengthened 1% on July 2. Earlier it reached as high as $1.0020.
The currency has traded near parity with its U.S. counterpart this year. It touched a 2008 low of C$1.0379 on Jan. 22, and a high of 97.12 cents per U.S. dollar on Feb. 28.
The two-year bond’s yield fell 3 basis points, or 0.03 percentage point, to 3.10%.
Bloomberg.com
Close
Presented by
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment