MARKET NEWS
Canadian dollar tops G10 currencies on central bank guidance - REUTERS
By Fergal Smith
- Canadian dollar gains 0.1% against the greenback
- Bank of Canada cuts benchmark rate by 50 basis points
- Price of US oil settles 2.5% higher
- 10-year yield climbs 7.9 basis points
TORONTO, Dec 11 (Reuters) - The Canadian dollar rose against its U.S. counterpart and all other G10 currencies on Wednesday as the Bank of Canada cut interest rates by half a percentage point but shifted to more hawkish guidance on prospects for additional easing.
The loonie was trading 0.1% higher at 1.4160 to the U.S. dollar, or 70.62 U.S. cents, after trading in a range of 1.4121 to 1.4193. On Tuesday, it touched a 4-1/2-year low at 1.4194.
