Wednesday, 19 June 2013 02:31
Posted by Asad Naeem
TORONTO: The Canadian dollar retreated against a broadly stronger US dollar on Tuesday as investors braced for news on where the US Federal Reserve will take monetary policy.Markets have been jittery in recent weeks on speculation the Fed could start winding down stimulus measures soon, and they are looking to Fed chief Ben Bernanke's news conference on Wednesday, at the end of the US central bank's two-day federal open market committee (FOMC) meeting, for more clarity."It's very quiet. Everybody's caught in pre-FOMC concerns," said Mark Chandler, head of Canadian fixed-income and currency strategy at RBC Capital Markets."Most people are looking for some words of comfort from Bernanke. What he's going to do is simply be clear about the process it takes and how long it might take from taper to an eventual rate increase."The Canadian dollar finished its North American session at C$1.0210 versus the greenback, or 97.94 US cents, ...