Canadian dollar gains 0.2% against the greenback
Touches its strongest since September 1 at 1.3735
Annual rate of inflation increases to 1.9%
Bond yields ease across the curve
TORONTO, Sept 16 (Reuters) – The Canadian dollar strengthened to a two-week high against its U.S. counterpart on Tuesday, as broad-based declines for the greenback offset cooler-than-expected domestic inflation data.
The loonie was trading 0.2% higher at 1.3745 per U.S. dollar, or 72.75 U.S. cents, after touching its strongest intraday level since September 1 at 1.3738.
“While the currency has done better, it is more of a U.S. dollar weakness than a Canadian dollar strength story,” said Benjamin Reitzes, Canadian rates & macro strategist at BMO Capital Markets. The U.S. dollar fell against a basket of major currencies as investors grew more confident that the Federal Reserve would cut interest rates on Wednesday. Adding to support for the loonie, the…
