By Commodity News Service Canada
WINNIPEG, June 12 – The Canadian dollar ended slightly firmer against the US dollar on Thursday, lifted by the gains seen in crude oil values.
Much of the strength in crude oil was linked to concerns about unrest in Iraq causing problems moving oil supplies, analysts said.
The Canadian dollar closed at US$0.9212 or US$1=C$1.0855 on Thursday, which compares with Wednesday’s North American settlement of US$0.9202 or US$1=C$1.0867.
Strength in gold prices was also supportive for the Canadian dollar.
Canadian bonds closed higher, as traders were flocking to safe haven assets amid global political concerns, according to brokers.
The two-year bond yielded 1.072% late Thursday, from 1.077% late Wednesday. The 10-year bond yielded 2.301%, from 2.347%. Bond yields fall as their prices rise.
