Market News
Canadian dollar recoups losses as investors assess BoC minutes - REUTERS
By Fergal Smith
- Summary
- Loonie trades in a range of 1.4350 to 1.4433
- Canada's economy grows 0.3% in October
- 10-year yield increases 1.8 basis points
TORONTO, Dec 23 (Reuters) - The Canadian dollar steadied against the U.S. dollar on Monday, clawing back its earlier declines, as investors weighed domestic GDP data as well as minutes from the Bank of Canada's latest meeting that showed some members favored a smaller rate cut.
The loonie was trading nearly unchanged at 1.4375 per U.S. dollar, or 69.57 U.S. cents, after trading in a range of 1.4350 to 1.4433.
The Bank of Canada's decision to cut rates by 50 basis points on Dec. 11 was a close call, with some members of the governing council suggesting a 25-basis-point cut was more appropriate, the minutes showed.
