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

Wed Oct 17, 2012 8:44am EDT
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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)