* Loonie trades in a range of 1.3471 to 1.3516* Price of U.S. oil falls 2.2%* Canadian bond yields ease across the curveTORONTO, Sept 28 (Reuters) - T
* Loonie trades in a range of 1.3471 to 1.3516
* Price of U.S. oil falls 2.2%
* Canadian bond yields ease across the curve
TORONTO, Sept 28 (Reuters) – The Canadian dollar was
little changed against its U.S. counterpart on Thursday as
investors took stock of recent market moves ahead of a possible
U.S. government shutdown, with the currency steadying a day
after hitting a two-week low.
The loonie was trading nearly unchanged at 1.35 to
the greenback, or 74.07 U.S. cents, after moving in a range of
1.3471 to 1.3516.
On Wednesday it touched its weakest intraday level since
Sept. 15, at 1.3542. Still, it has held up better than most
other G10 currencies in recent weeks.
“Ahead of the Chinese holiday tomorrow that extends into all
of next week and ahead of a possible closure of the U.S.
government, you’ve seen a short-covering rally in most of the
major currencies,” said Marc Chandler, chief market strategist
at Bannockburn Global Forex LLC. “The market is not as short
Canada and it’s had less of a bounce.”
The Democratic-led U.S. Senate forged ahead with a
bipartisan stopgap funding bill aimed at averting a fourth
partial government shutdown in a decade, while the House of
Republicans prepared to vote on partisan Republican spending
bills that have no chance of becoming law.
The U.S. dollar eased from a 10-month high against a
basket of major currencies as investors stayed on guard for
potential intervention in the yen.
The price of oil, one of Canada’s major exports, was down
2.2% at $91.6 a barrel, giving back some recent gains.
Canadian job vacancies declined 5.8% to 701,300 in July,
extending a steady downward trend since June 2022, Statistics
Canada said.
Canadian government bond yields were lower across the curve,
tracking moves in U.S. Treasuries. The 10-year eased
about half a basis point to 4.090%, after earlier touching its
highest level since December 2007 at 4.165%.
(Reporting by Fergal Smith; Editing by Leslie Adler)
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