Canadian dollar hits double-months as virus variant concerns tend to escalate

Canadian dollar hits double-months  as virus variant concerns tend to escalate ...

- The Canadian dollar reached its lowest level in two months with its American counterpart on Friday night as news of a new clone-resistant variant spooked global financial markets.

Investments and commodities tumbled at the risk of yen and Swiss franc, despite the global price and the oil wrung onto the risk of trade.

One could detect the variant, such as South Africa, Botswana and Hong Kong, but a combination of genetic mutations can be used in response to immune response and more transmitsible.

"The potential for a fair price close on the week for the CAD is obviated by the late-week volatility. It leaves the CAD prone to more softness while markets remain concerned and fixated on the COVID situation," strategists said in a note.

Global currencies have the highest decline.

At 1.2774, the loonie reached its lowest intraday level since Sept. 29. The loonie fell by the most of its strength in the week and fell by 17%.

Canadian government bonds yield rose significantly in a steep curve, the 2-year rate falling 8.8 basis points to 0.972%, and the 10-year rate falling 3.5 basis points at 1.729%.

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