Canadian dollar pares losses as oil rises, Fed rate hike bets dip

By Fergal Smith

TORONTO (Reuters) – The Canadian dollar pared some losses against the U.S. dollar on Monday, rebounding from an earlier 11-day low as oil rose and bets on a Federal Reserve interest rate hike were scaled back.

Growing concerns that global central banks’ commitment to monetary policy stimulus may be waning have weighed on risk-sensitive assets and currencies, such as the Canadian dollar, over the past few days. But U.S stock prices rebounded on Monday after Fed policymakers expressed caution about the need to raise U.S. interest rates.

Those “dovish sounding comments” helped support the …
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