CANADA FX DEBT-C$ ends week up 1 pct after jump in Canadian jobs

Fri Jan 4, 2013 4:53pm EST
 
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* C$ at C$0.9871 versus US$, or $1.0131

* Strong Canada jobs data boosts currency

* Subdued hiring in U.S. limits gains

* C$ gains 1 pct for week

By Alastair Sharp

TORONTO, Jan 4 (Reuters) - The Canadian dollar gained sharply against its U.S. counterpart on Friday after Canada added a surprisingly robust 39,800 jobs in December, but the stronger move was hindered by a relatively subdued rate of hiring in the United States.

The positive shock of the Canadian employment data in the morning caused an immediate reaction, which was moderated somewhat in afternoon trade.

"A lot of people were caught flat-footed and you did see quite a bit of stop-loss selling of (U.S. dollars)," said Blake Jespersen, a managing director for foreign exchange sales at BMO Capital Markets.   Continued...