* C$ at C$1.0132 or 98.70 U.S. cents
* Equity outlook gives boost to Canadian dollar
* Broad U.S. dollar weakness helps
By Alastair Sharp
TORONTO, April 2 The Canadian dollar
strengthened to a one-month high against its U.S. counterpart on
Tuesday, benefiting from a brighter outlook for North American
equities and a weaker greenback hurt by lackluster U.S. factory
The loonie, as Canada's currency is colloquially known,
pushed through a recent tight range between C$1.02 and C$1.0140,
as did its commodity-linked cousins the Australia and New
Zealand dollars, the latter hitting a six-week high.
"It's more U.S. dollar weakness than Canadian dollar
strength, I would say," said Adam Cole, global head of foreign
exchange strategy at Royal Bank of Canada. "The fact that
equities are doing better is also helping."
U.S. stock futures point to a higher start, which puts the
S&P 500 within striking distance of its all-time intraday high.
Canadian stocks were also set to opener higher.
At 9:13 a.m. (1313 GMT) the Canadian dollar was
trading at C$1.0132 to the greenback, or 98.70 U.S. cents,
compared with C$1.0167, or 98.36 U.S. cents, at Monday's North
American close. That was its highest level since Feb. 20.
The price of Canadian government debt was lower across the
curve, with the two-year bond off 2 Canadian cents to
yield 1.002 percent, and the benchmark 10-year bond
falling 10 Canadian cents to yield 1.858 percent.