TORONTO – The Canadian dollar’s latest run towards parity with the U.S. dollar stalled Friday as traders avoided risky assets such as the loonie and commodities amid another day of worries about the eurozone debt crisis.The currency was down 0.48 of a cent to 98.75 cents US after closing at a two-month high Thursday. The dollar hasn’t closed above parity since May 8.Traders took in data showing inflation well under control as Statistics Canada reported that the country’s annual inflation rate rose 0.3 of a percentage point to 1.5 per cent in June, from 1.2 per cent the previous month.On a month-to-month basis, the consumer price index fell 0.4 per cent from May.The increase in the annual rate was mostly attributed to effects from the same period a year earlier, when gas prices were receding and the cost of new automobiles fell by over three per cent.The latest round of eurozone worries were sparked as the yield on Spain’s benchmark 10-year bond ran up to over seven per cent, a rate considered to be unsustainable.Yields rose even as finance ministers from the 17 euro countries approved a bailout for Spanish banks.But investors fear that the Spanish government could, in the meantime, face new costs helping its banks and could eventually need rescue loans itself.Oil prices slipped after rising Mideast tensions sent crude up by almost $3 on Thursday.The August crude contract on the New York Mercantile Exchange fell $1.22 to US$91.44 a barrel.Crude rose about five per cent last week as the oil market responded to a series of events that have raised concerns that Iran will try to block oil shipments through the Strait of Hormuz, a narrow waterway in the Persian Gulf through which one-fifth of the world’s oil travels every day.Metals were also lower with copper down nine cents to US$3.45 a pound. Bullion gained $2.40 to US$1,582.80 an ounce. by Malcolm Morrison, The Canadian Press Posted Jul 20, 2012 4:35 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Canadian dollar closes lower as traders avoid risk, data shows inflation rise read more

first_img Want the best of The Telegraph direct to your email and WhatsApp? Sign up to our free twice-daily  Front Page newsletter and new  audio briefings.   He added: “The overwhelming message from the experts is that Scotland could significantly reduce reoffending by better use of electronic tagging and emerging monitoring technology.  “I welcome all of the recommendations the panel has made and am determined that we seize this opportunity to reduce crime even further and make our communities safer.”  The new projects will see GPS tracking used in addition to the current radio frequency technology employed to monitor people as part of their sentence.  An increase in the use of electronic tagging would be employed in addition to community payback orders and other measures to tackle offending behaviour, ministers said.  The introduction of electronic monitoring to tackle the “disproportionately high” rate of people on remand in prison will also be explored.  “Effective community sentences have driven Scotland’s reoffending rate down to a 17-year low using smarter, more effective interventions,” Mr Matheson said.  “The potential of combining community sentencing alternatives with tagging will allow us to hold people to greater account during their sentence and focus on rehabilitating them.”  Ministers say international research shows that short term sentences are not the most effective way of bringing down reoffending.  On the use of electronic monitoring ahead of sentencing, Dr Hannah Graham, a Stirling University criminologist, said: “There is a disproportionately high rate of people on remand in prison in Scotland.  “The recommendation to introduce electronic monitoring as an alternative to remand opens up extra opportunities to address this issue by closely monitoring and supporting more people in the community pre-trial, without losing sight of the need to ensure public safety.” Ministers set up expert group on taggingCredit:PA Scottish Parliament Ministers are proposing a radical expansion of the use of electronic tags in a bid to reduce reoffending.  Pilot projects will involve GPS tracking, alcohol monitoring technology and tagging as an alternative to custody.  The plans, announced by Michael Matheson, the justice minister, will be accompanied by a wider package of support for offenders and follow the recommendations of an expert group.  The “sobriety tags” that will be tested respond to ethanol in an individual’s sweat and could be used as an alternative to prison for those who offend under the influence of alcohol.   The changes, proposed by an expert group set up by the Scottish Government two years ago, will require new regulations and legislation and further pilot projects are expected to be announced in the coming months.  Tagging has been used for around 15 years, largely to ensure offenders remain in their homes overnight under early release from jail, or as an alternative to prison. Under the new proposals, forms of tagging will be used as an alternative to remand in prison and as a condition of bail.  Mr Matheson said he wanted Scotland to learn from the systems used in the Netherlands.last_img read more