* Canadian dollar strengthens 0.3% against the greenback
* Touches a two-week high at 1.3411
* Price of U.S. oil settles 1.6% lower
* Canada-U.S. 10-year spread narrows 2.8 basis points
TORONTO, Jan 29 (Reuters) – The Canadian dollar
strengthened to a two-week high against its U.S. counterpart on
Monday as investor sentiment remained upbeat ahead of a Federal
Reserve policy decision this week.
The loonie was trading 0.3% higher at 1.3411 to the
greenback, or 74.57 U.S. cents, its strongest level since Jan.
15.
“Spreads and stocks have been supportive for the CAD and
those drivers likely remain relevant this week, given the Fed
policy decision,” Shaun Osborne, chief currency strategist at
Scotiabank, said in a note.
U.S. stocks rose before this week’s slew of megacap
earnings, economic data and the Fed’s policy announcement on
Wednesday, with the S&P 500 on track to eke out yet another
record…
