By Commodity News Service Canada
WINNIPEG, April 9 – The Canadian dollar continued to firm relative to the US dollar on Wednesday, closing just below 92 cents US.
A broad sell-off in the US dollar, after the release of US Federal Reserve minutes from last month’s meeting were dovish, helped the Canadian dollar move higher, analysts said.
The Canadian dollar closed at US$0.9198 or US$1=C$1.0872 on Wednesday, which compares with Tuesday’s North American settlement of US$0.9156 or US$1=C$1.0922.
Spillover support for the Canadian currency also came from the advances seen in commodity prices, including crude oil and gold.
Traders were looking ahead to Thursday’s US jobless claims data and Canadian new-home price index figures from Statistics Canada.
Canadian bonds ended mixed Wednesday, reacting to the release of the US Federal Reserve’s dovish meeting minutes, brokers said.
The two-year bond yielded 1.072% late Wednesday, from 1.082% late Tuesday. The 10-year bond yielded 2.469%, from
2.462%. Bond yields fall as their prices rise.
