2014.07.0323:32:58UTC+00Canadian dollar extends rally to 6-month peak

The Canadian dollar bolstered against the US dollar in a see-saw session Thursday, prolonging its rally to a six-month high amid robust US jobs figures that pushed the loonie down earlier in the day.

The loonie also got some support from figures showing a resurgence in the country’s exports helped narrow its trade deficit to C$152 million ($143 million) in May.

However, the report had been eclipsed earlier by figures showing the US economy added 288,000 jobs last month, bolstering the greenback to the expense of the loonie.

But the currency was able to continue its upward movement by midmorning, brought by the momentum resulting to a 1.6% gain in June.

"I think the Canadian dollar is clinging on to recent gains at the moment," said Lennon Sweeting, Corporate Dealer at USForex.

The loonie concluded the North American session at C$1.0639 to the greenback or 93.99 US cents, stronger than Wednesday's C$1.0667 or 93.75 US cents. Its session high was C$1.0620, the highest level since early January.

Meanwhile, Canadian government bond prices were mostly lower throughout the maturity curve, although the two-year was unchanged, to 1.135% while the 10-year was off 4 Canadian cents, to 2.326%.