for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

CANADA FX DEBT-Canadian dollar stalls after Monday's big advance

    * Canadian dollar falls 0.2% against the greenback
    * Canadian bond yields rise across the curve

    By Saqib Iqbal Ahmed
    Nov 10 (Reuters) - The Canadian dollar fell against its U.S.
counterpart on Tuesday, retreating from the more than 2-year
high hit in the previous session after a promising coronavirus
vaccine development boosted demand for riskier currencies.
    The Canadian dollar        was trading 0.2% lower at 1.3024
to the greenback, or 76.76 U.S. cents, pulling back from its
strongest intraday level in more than two years on Monday at
1.2928. 
    The U.S. dollar edged up on Tuesday and the yen stayed low,
as investors remained optimistic about progress towards a
COVID-19 vaccine, although the moves were more tempered than in
the previous session.             
    "The Canadian dollar rallied to its highest level against
the U.S. dollar in a little over two years yesterday before the
pro-risk rally stalled," Shaun Osborne, chief currency
strategist at Scotiabank, said in a note.
    "But the fact that the Canadian dollar is down, if only
modestly, on the session so far, suggests markets are
recalibrating after yesterday’s failed CAD rally," Osborne said.
    The loonie found some support from continued strength in the
price of oil, one of Canada's major exports.
    Oil prices rose on Tuesday as hopes that a COVID-19 vaccine
could be on the horizon outweighed the expected negative impact
on fuel demand of new lockdowns to curb the virus.             
    Canadian government bond yields were higher across the
curve, with the 10-year             up 4.8 basis points at
0.795%. 

 (Reporting by Saqib Iqbal Ahmed
Editing by Nick Zieminski)
  
for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up