C$ rises; bearish bets on currency reach all-time high

TORONTO - The Canadian dollar edged higher against its U.S. counterpart on Monday as investors awaited further insight into the Bank of Canada's move to cut interest rates and after speculators raised their bearish bets on the currency to a record high level.

As of June 11, non-commercial accounts had increased their net short positions in the Canadian dollar to 129,493 contracts from 91,639 in the prior week, data on Friday from LSEG and the U.S. Commodity Futures Trading Commission showed.."The jump in Canadian dollar shorts is a cyclical trade," said Adam Button, chief currency analyst at ForexLive.

The BoC this month became the first G7 central bank to begin cutting interest rates. Minutes from the June 5 policy decision are due to be released on Wednesday. ‘I’m counting on this income’: Single mom in NC faces squatter nightmare after Airbnb guests refuse to leaveHere's what investors should expect from Enbridge's dividend in 2024. The post How Much Will Enbridge Pay in Dividends This Year? appeared first on The Motley Fool Canada.FEATURE Nvidia stock was trading down slightly Monday. The chip maker has been getting more price-target upgrades on Wall Street. Nvidia shares fell 0.6% at $131.07 on Monday. The stock closed up 1.

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