Canadian dollar erases gains after U.S. GDP data

Fri Jan 27, 2012 8:56am EST
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TORONTO (Reuters) - The Canadian dollar erased gains to trade unchanged on Friday after a report showed the U.S. economy, the destination for most Canadian exports, grew at a slower-than-expected rate in the fourth quarter.

The Canadian dollar traded at C$1.0017, or 99.83 U.S. cents, shortly after the report, the same level it closed at on Thursday. Earlier in the session in firmed to C$0.9988 to the U.S. dollar.

(Reporting by Jeffrey Hodgson Editing by W Simon)