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Gold/Mining/Energy : Tri-Vision & The V-Chip -- Ignore unavailable to you. Want to Upgrade?

To: Graham Dellaire who wrote (3731)	8/11/1998 5:36:00 PM
From: Link Lady	Respond to of 5743

08/11 4:23P (DJ) Canada Dollar Down; Thin Range Trade After Bk Of Canada Move TORONTO (Dow Jones)--The Canadian dollar ended down slightly against the U.S. dollar in sluggish trading Tuesday, as another intervention from the Bank of Canada was enough to anchor the Canadian unit in a firm range, but not enough to spark a rally. The U.S. dollar was trading at C$1.5220 at 4:08 p.m. EDT (2008 GMT), from C$1.5208 at 8:00 a.m. EDT (1200 GMT) and from C$1.5175 late Monday. The Bank of Canada intervened in support of the Canadian dollar for the fourth consecutive session early Tuesday, reportedly selling U.S. dollars at the C$1.5230 U.S. dollar level. As in the previous three sessions, the Bank's intervention came well in advance of its normal 70 -tick intervention trigger. With intervention now seemingly a regular occurrence, traders said speculative U.S. dollar bids have dwindled drastically, since the levels at which the central bank will step in are as yet unpredictable, although both interventions Monday and Tuesday took place beginning at C$1.5230. "The whole idea of surprise levels is working well because no one's sure when they'll step in - sitting on offers or actively giving bids," said Linda Park, director of foreign exchange at Bank of Montreal. "That whole uncertainty is what's created some stability in the market." Some traders said trading Tuesday was confined to a tight range between C$1.5200 and C$1.5220 because the central bank was rumored to be ready to step in with more U.S. dollar selling if the rate moved much above C$1.5220, while C$1.5230 was considered a sure intervention trigger. Trading was relatively light throughout the day, with the spectre of the central bank and also the turmoil in North American stock markets keeping many to the sidelines. These are the exchange rates at 4:08 p.m. EDT (2008 GMT), 8:00 a.m. EDT (1200 GMT), and late Monday. U.S./CDN 1.5220 1.5208 1.5175 CDN/DEM 1.1689 1.1173 1.1713 CDN/YEN 96.71 96.31 96.34 (END) DOW JONES NEWS 08 -11 -98 04:23 PM