Canadian Forex Midday: C$ Firms Amid Light Trade

WINNIPEG, MB, Mar 24, 2008 (Resource News International via COMTEX) -- The Canadian dollar was trading at a firmer level versus the US dollar at midday on Monday. The Canadian currency is seeing only light activity as a result of the Easter holidays, market watchers said. Many trading desks in North America are understaffed while European markets are closed.

A degree of stability returned to North American stocks market on Monday as JP Morgan Chase and Co. announced that it raised its all-stock offer for Bear Stearns to roughly US$10 a share, up significantly from its original US$2 bid. The favourable market response contributed to the strength of the Canadian dollar as risk-aversion receded, brokers said. ...