August 8, 2012 / 2:07 PM / 5 years ago

Canadian dollar hits near three-month high on ECB stimulus hopes

TORONTO (Reuters) - The Canadian dollar hit a near three-month high against its U.S. counterpart on Wednesday on rising expectations the European Central Bank will ultimately step in to boost the euro zone’s flagging economy.

The Canadian dollar hit a session high at C$0.9957 versus the U.S. currency, or $1.0043. It was the currency’s highest level versus the greenback since touching C$0.9954, or $1.0046, on May 11.

Reporting by Jon Cook; Editing by James Dalgleish

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