American dollar is point lower this morning

Today's expected range for the Canadian Dollar against the major currencies:

US Dollar             1.2450-1.2550

Euro                     1.4100-1.4200

Sterling                1.6950-1.7050

The US Dollar index is marginally weaker this morning as the consistent rise in US Treasury Bond interest rates began to slow. After reaching a high yesterday of 1.902% yesterday the 10-year bond yield fell back to trade at 1.8379% this morning so the Greenback gave backs some of its gains from the last couple of days.

The Canadian Dollar has held steady near the 1.2500 (0.8000) level for the second day in a row, it was not able to extend any further gains overnight despite the US Dollar being a little weaker. The Dollar picked up a little strength on the higher than expected inflation report yesterday but it was not able to hold onto that strength for long.

Nothing of note on the calendar today, stocks are again pointing higher after a tough day yesterday, look for USD.CAD to remain steady throughout the day.