CANADA FX-C$ pierces parity after Singapore surprise

* C$ breaks through parity, touches high of $1.002

* Bond prices fall as risk appetite returns to market

By Claire Sibonney

TORONTO, Oct 14 (BestGrowthStock) – The Canadian dollar pushed
through parity against the U.S. dollar on Thursday for the
first time since April, after Singapore unexpectedly tightened
policy by letting its currency strengthen, hitting the
greenback hard.

The U.S. dollar index (Read more about the global trade. ) hit the year’s low and world stocks
hit 2-year highs with investors seeing easier U.S. monetary
policy driving a flight to high-yielding assets. [MKTS/GLOB]

In the middle of the European morning, the Canadian
currency (CAD=D4: ) touched a high of C$0.9980 against the U.S.
dollar, or $1.002, its strongest level since April 26.

“We needed something more than the quantitative easing,”
said Matthew Strauss, senior currency strategist at RBC Capital

“The Singapore story … highlighting the divergence in
what’s happening in the U.S. compared to what’s happening in
Asia and that resulted in some further U.S. selling.”
(Reporting by Claire Sibonney; Editing by Jeffrey Hodgson)

CANADA FX-C$ pierces parity after Singapore surprise