* Canadian dollar at C$1.892 or 91.81 U.S. cents
* Bond prices mostly weaker
By Solarina Ho
TORONTO, May 12 The Canadian dollar strengthened
a bit against its U.S. counterpart on Monday after a sharp
retreat on Friday on data that showed surprising job losses in
The currency had jumped to its strongest level since early
January early last week. But it took a tumble after figures
showed Canada lost 28,900 jobs in April, versus expectations of
12,000 net new positions.
"The jobs data was a bit shocking on Friday for most," said
Darcy Browne, managing director, Capital Markets Trading at
"The sentiment has turned a little bit in terms of everyone
thinking the higher end of the perceived range is no longer
going to be seen at C$1.12, C$1.15, so we're running into some
decent selling on approach to C$1.09. I think there'll be even
more at C$1.10."
At 9:18 a.m. (1318 GMT), the Canadian dollar was
outperforming many other currencies against the greenback and
was at C$1.0892, or 91.81 U.S. cents. That was firmer than
Friday's close of C$1.0896, or 91.78 U.S. cents.
"People are starting to view this now as maybe a decent
hedge level," Browne said.
He added that with little domestic data expected this week,
the currency will likely take its cues from sentiment in other
markets. Over the short term, he saw the loonie trading between
$1.0820 and C$1.0920.
Canadian government bond prices were mostly lower across the
maturity curve, with the two-year down 2 Canadian
cents to yield 1.070 percent, and the benchmark 10-year
declining 17 Canadian cents to yield 2.383 percent.
(Editing by Peter Galloway)