Loonie extends gains to touch session high after U.S. data

Tue Dec 20, 2011 9:03am EST
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TORONTO (Reuters) - Canada's dollar extended gains to touch a session high against the greenback on Tuesday after stronger-than-expected data on U.S. housing starts soothed investor fears about a global economic slowdown.

At 8:55 a.m., the Canadian dollar was at C$1.0304 to the U.S. dollar, or 97.05 U.S. cents, up from about C$1.0339 versus the U.S. currency, or 96.72 U.S. cents, before the data. On Monday, the currency ended the North American session at C$1.0387 versus the greenback, or 96.27 U.S. cents.

(Reporting By Jennifer Kwan; Editing by Theodore d'Afflisio)