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INSIDE CANADA: CAD Drops to Weakest Level in 4 Years; Bonds Rise

Jan. 22 (Bloomberg) -- This is an overview of Canada’s currency and debt markets:

FX: * CAD fell as much as 1.1% vs USD to 1.1092, weakest level

since Sept. 2, 2009, before trading at 1.1087 at 5 p.m.

Toronto time * CAD has dropped 4.2% this year against USD * CAD slid after Bank of Canada lowered inflation forecast,

said currency still strong enough to be competitive

challenge for exports * BOC Governor Stephen Poloz kept key rate at 1%, where it’s

been since September 2010; said next move depends on economy * CAD fell versus all of its 16 major peers * CAD 14-day relative strength index vs USD was below 30 level

that signals it may be due to rise for seventh day

GOVT DEBT: * Yield on 10-year government bond fell two bps to 2.49% * 1.5% security due in June 2023 rose 13 cents to 91.79 * Yield spread of provincial bonds over federal debt were

unchanged at 65 bps, according to Bank of America Merrill

Lynch Canadian Provincial & Municipal Index * Effective yield on provincial debt rises to 2.88%, from

2.87% yday

CORP DEBT: * Yield spread on corporate bonds over federal was unchanged

yday at 114 bps, according to Bank of America Merrill Lynch

Canada Corporate Index * Effective yield on corporate debt rises to 2.91%, from 2.90%


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