By Commodity News Service Canada
WINNIPEG, June 11 – The Canadian dollar ended stronger against the US dollar on Wednesday, rising above 92 cents US. The firmness was linked to traders being more willing to take on risk amid optimism surrounding global economic growth, analysts said.
The Canadian dollar closed at US$0.9202 or US$1=C$1.0867 on Wednesday, which compares with Tuesday’s North American settlement of US$0.9171 or US$1=C$1.0904.
Strength in crude oil prices, due to reports of lower than expected supplies of the commodity in the US, was also bullish for the loonie.
Canadian bonds closed slightly higher, following the advances seen in the US Treasury market on Wednesday amid a lack of fresh marking moving news, traders said.
The two-year bond yielded 1.075% late Wednesday, from 1.080% late Tuesday. The 10-year bond yielded 2.342%, from 2.346%. Bond yields fall as their prices rise.
