Canadian Dollar Falls for 6th Day as BoC Signals Patience at 2.25%

4 articles · Updated · Reuters · May 13

The loonie slipped 0.1% to C$1.3705 per U.S. dollar, extending its losing streak to six sessions as the greenback strengthened broadly.
BoC minutes from before the April 29 decision showed policymakers were comfortable holding rates at 2.25% and waiting for more clarity, even as conditions could change quickly.
Friday's data showed Canada lost 17,700 jobs in April and unemployment rose to 6.9%, reinforcing signs of labor-market weakness tied to trade uncertainty.
Markets still price in two BoC rate hikes by December as higher oil prices threaten inflation, though crude eased 1.1% to $101.02 a barrel on Wednesday.
Canadian bond yields edged lower across a flatter curve, with the 10-year yield down 1.5 basis points to 3.577% after earlier touching an eight-day high.

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