Canadian dollar breaks C$0.97 after Fed announces stimulus move

Thu Sep 13, 2012 2:12pm EDT
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TORONTO (Reuters) - The Canadian dollar touched a 13-month high against the U.S. dollar on Thursday after the Federal Reserve announced a third round of aggressive quantitative easing to boost the sluggish U.S. economy.

The Fed said it will buy $40 billion of mortgage debt per month and continue to purchase assets until the outlook for jobs improves substantially.

The currency touched C$0.9693 versus the U.S. dollar, or $1.0317, up from Wednesday's North American session close at C$0.9766, or $1.0240. It touched C$0.9603, or 1.0413, on August 4, 2011.

(Reporting by Solarina Ho; Editing by James Dalgleish)