Canadian Dollar Lower as Markets Awaits Greek News

 
   By David George-Cosh 
 

        TORONTO--The Canadian dollar was lower against the U.S. dollar, but continued to trade in a narrow range, as investors kept watch on the latest developments in Greece.
        The U.S. dollar was recently at C$1.2381 from C$1.2328 late Thursday, according to data provider CQG.
        The Canadian dollar remains something of a sideshow for the market at present," noted TD Securities.
        Greek lawmakers continued to meet with European counterparts in an attempt to finalize a deal that would secure Greece much-needed bailout funds before its debt-repayment deadline on Tuesday.
        Meanwhile, alarmed investors moved toward the safety of the greenback from the risk-sensitive Canadian dollar as Chinese stocks continued to plunge and stoke concerns that growth in the world's second-biggest economy has softened dramatically.
        In the absence of any domestic drivers, the Canadian dollar should react to any developments related to Greece. But Cambridge Global Payments says market participants are more likely to stand pat until Tuesday, when Canada's April gross domestic product number is released.
        TD Securities adds in a research note the U.S. dollar's range for Friday is likely to be between C$1.2315 and C$1.2450.
        Write to David George-Cosh at david.george-cosh@wsj.com
        (END) Dow Jones Newswires

        June 26, 2015 09:35 ET (13:35 GMT)

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