By Karen Johnson
TORONTO-- The Canadian dollar climbed to a two-year high against the
euro but was little changed against its U.S. rival in thin volumes
Wednesday, with U.S. markets closed for a holiday.
Investors are awaiting policy decisions from the European Central Bank
and the Bank of England on Thursday and some critical U.S. jobs data
on Friday.
The U.S. dollar was at C$1.0129 late Wednesday, from C$1.0122 late
Tuesday, according to data provider CQG. The euro, meanwhile, extended
its recent selloff to touch a fresh two-year low against the Canadian
dollar, trading as low as C$1.2664, a level not seen since June of
2010.
"The Canadian dollar has been trading more in line with the U.S.
dollar at the moment," said Shaun Osborne, chief currency strategist
at TD Securities.
The euro was broadly under pressure, also declining against the U.S.
dollar, Japanese yen, and touching a record low against the New
Zealand dollar.
Analysts expect that the European Central Bank on Thursday will
announce at least a quarter-point interest rate cut. The market widely
expects the Bank of England on Thursday will announce further
quantitative easing.
These are the exchange rates at 3:10 p.m. EDT (1910 GMT) and 8 a.m.
EDT (1200 GMT) Wednesday, and late Tuesday.
USD/CAD 1.0129 1.0129 1.0122
EUR/CAD 1.2697 1.2726 1.2763
CAD/JPY 78.82 78.82 78.82
Write to Karen Johnson at karen.johnson@dowjones.com
(END) Dow Jones Newswires
July 04, 2012 15:22 ET (19:22 GMT)
No comments:
Post a Comment