Canada dollar firms to session high after strong U.S. housing data

Wed Oct 17, 2012 8:44am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

TORONTO (Reuters) - The Canadian dollar firmed to a session high on Wednesday after U.S. housing data showed a budding recovery in the sector is gaining traction.

The Canadian currency hit C$0.9825 to the U.S. dollar, or $1.0178, immediately after the release of data showing groundbreaking on new U.S. homes surged to its fastest pace in more than four years.

It had traded at around C$0.9845 just before the data (Reporting by Alastair Sharp; Editing by Jeffrey Hodgson)