Sumary of CANADA FX DEBT-Canadian dollar beats G10 peers as inflation hits 18-year high:
- The loonie was up 0.4% at 1.2642 to the greenback, or 79.10 U.S. cents, after trading in a range of 1.2631 to 1.2708. “It looks like broad U.S. dollar weakness although there were positive developments (for the Canadian dollar) on the inflation front,” said Simon Harvey, senior FX market analyst for Monex Europe and Monex Canada.
- The leader of Canada’s main opposition party said a surge in inflation last month highlighted the failure of Prime Minister Justin Trudeau’s economic policies, and urged Canadians to vote out the government in an election on Monday.
- U.S. crude prices settled 3.1% higher at $72.61 a barrel, while Canadian government bond yields rose across a steeper curve.