By Commodity News Service Canada
Winnipeg, April 16 – The Canadian dollar was stronger on Thursday, hitting its highest levels relative to its US counterpart of 2015 as currency traders continued to react to the relatively optimistic economic sentiments out of the Bank of Canada on Wednesday.
The Canadian currency late in the afternoon was quoted at US$0.8210 or US$1=C$1.2181. This compares with Wednesday’s North American close of US$0.8130, or US$=C$1.2300.
The Canadian dollar jumped by over a cent relative to its US counterpart on Wednesday, following the Bank of Canada’s latest interest rate announcement. The Bank left rates steady, as expected, and the accompanying statement was generally seen as positive as far as the economy was concerned with no further rate cuts in the immediate outlook.
General weakness in the US dollar internationally, following some softer-than-expected US employment data, contributed to the relative strength in the Canadian dollar.
Losses in crude oil did temper the gains in the energy-linked Canadian dollar.
Canadian bonds were down on the day, seeing a continuation of Wednesday’s declines.
