Canadian Dollar Hits Six-Week High as Yield Gap Narrows
The loonie strengthened to a six-week high against the US dollar on Thursday as the Bank of Canada’s tightening cycle narrowed the Canadian-US bond yield gap. It traded 0.1% higher at 1.3982 per US dollar, or 71.52 US cents.
By Fergal SmithThe Canadian dollar strengthened to a six-week high against its US counterpart on Thursday after the start of a Bank of Canada tightening cycle helped narrow the gap between Canadian and US bond yields.The loonie FX_IDC:USDCAD was trading 0.1% higher at 1.3982 per US dollar, or 71.52…