CANADA FX DEBT-C$ hits 2012 high on Greek deal

Thu Feb 9, 2012 9:45am EST
 
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* C$ rises to C$0.9925, or $1.0076

* Supported by news Greek deal has been reached

* Shrugs off domestic Dec home prices data

* Bond yields hit 2012 highs

By Jennifer Kwan

TORONTO, Feb 9 (Reuters) - Canada's dollar strengthened to a 2012 high against its U.S. counterpart on Thursday on firmer oil prices and as investors sought riskier assets on news a Greek bailout package had been reached.

European stocks and the euro bounced higher after European Central Bank President Mario Draghi confirmed that Greece had clinched a deal for emergency aid needed to avoid a disorderly default.

"It's relative optimism coming from Greece. We don't know what the details are, but the agreement has apparently been reached," said Jack Spitz, managing director of foreign exchange at National Bank.

"That would attract some investor confidence to the market and should give the euro a bit of a boost, and it's actually also attracting some offers into the U.S. dollar."   Continued...