Tuesday, September 16th8.3°C
23373
20950

Dollar approaches lowest level in 2 yrs.

The loonie slid to its lowest level in nearly two years Tuesday morning as the U.S. dollar gained traction on confidence over the direction of bond yields.

The Canadian dollar dropped 0.43 of a cent to 94.65 cents US shortly before stock markets opened, reaching a level it last hit in September 2010.

The drop came after the Canada Day holiday, when the currency experienced low levels of trading, and amid expectations that current U.S. monetary policy will help drive U.S. bond yields higher.

Economies around the world were also facing pressure, which drove down other currencies.

Australia's central bank left interest rates unchanged and said the Australian dollar is likely to continue falling, easing pressure on the economy.

And in China, manufacturing weakened in June amid a credit crunch.

In commodities, the August crude contract on the New York Mercantile Exchange was up 63 cents to US$98.62 a barrel on political concerns in Egypt.

The country's military issued an ultimatum to President Mohammed Morsi that gave him 48 hours to meet the demands of the millions who have taken to the streets seeking his ouster.

August bullion was down $3.20 to US$1,252.50 an ounce on the Nymex.

The Canadian Press


Read more Business News

23104


Recent Trending




Today's Market
S&P TSX15482.56-49.021
S&P CDNX981.50-6.43
DJIA17031.1443.63
Nasdaq4518.903-48.696
S&P 5001984.13-1.41
CDN Dollar0.9045-0.0002
Gold1240.00+4.90
Oil92.85-0.07
Lumber349.00+1.00
Natural Gas3.977-0.02

 
Okanagan Companies
Pacific Safety0.18-0.02
Knighthawk0.01-0.005
QHR Technologies Inc1.29-0.01
Cantex0.06-0.01
Anavex Life Sciences0.25+0.01
Metalex Ventures0.065-0.005
Russel Metals36.17-0.09
Copper Mountain Mining2.70-0.18
Colorado Resources0.155-0.01
ReliaBrand Inc0.024-0.0078
Sunrise Resources Ltd0.02-0.005
Mission Ready Services0.265-0.01

 



21097

FEATURED Property
205210110501 Coldstream Creek Road
10086134 bedrooms
$2,095,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 1 of 2 Photo: Thinkstock.com1. Move in with your parents or in-laws Explain that you're thinking strategically in moving back home. The quickest way to get into the housing market is to ma...


Price Guarantees

Article written by Linda Bustos Though I’d never recommend “lowest prices” as a unique selling proposition, I notice many retailers use a Price Match Guarantee or even a 110% Guara...


Brangelina and Celebrity vs Philanthropy

This week my wife wrote a blog for our charities website, I thought you may enjoy reading it here: I was planning to write about the incredible philanthropic Miss Angelina when, funnily enough, she ...

_





23073


Member of BC Press Council


22267