Loonie reaches near three-month high against dollar

Thu Jan 26, 2012 10:30am EST
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TORONTO (Reuters) - The Canadian dollar reached its highest level against its U.S. counterpart in nearly three months on Thursday after new U.S. jobless data and Wednesday's move by the Federal Reserve to keep rates low signaled the U.S. economic recovery may be faltering.

The Canadian currency hit a session high at C$0.9990, or 1.001 U.S. cents, its strongest level since November 1.

(Reporting By Jon Cook; Editing by Peter Galloway)