BLBG: Canada’s Dollar Little Changed as Stocks, Crude Oil Pare Gains
Canada’s dollar was little changed against its U.S. counterpart as stocks and crude oil pared earlier advances.
The Canadian currency traded at C$1.1149 against the U.S. dollar at 10:48 a.m. in Toronto, from C$1.1164 yesterday. It appreciated to C$1.1108 earlier, the strongest level since Oct. 8. One Canadian dollar buys 89.69 U.S. cents.
“We’re consolidating at the strong end of the range,” said Shane Enright, currency strategist at CIBC World Markets Inc. in Toronto. “Ninety cents is a big psychological level. There’s a lot of support down there. The gains we’ve given back have been in line with some of the moves we’ve seen in other currencies.”
Crude oil for July delivery rose 0.3 percent to $62.64 a barrel in New York, trimming an earlier 1.6 percent gain. The MSCI World Index of stocks in 23 developed countries was up 0.2 percent, after advancing as much as 0.7 percent.
