CANADA FX DEBT-C$ ends stronger after hitting 2012 high on Greece

Thu Feb 9, 2012 4:25pm EST
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(Adds analyst comment. Updates to close)

* C$ hits 2012 high before easing back

* Supported by news Greek deal has been reached

* Shrugs off domestic Dec home prices data

* Bond yields hit 2012 highs

By Andrea Hopkins

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 of a Greek bailout package, but gains were curbed by lingering fears of a default.

News that Greek leaders had clinched a long-stalled deal just hours before a key meeting with the country's financial backers encouraged investors to take on some risk, driving down prices of safe-haven U.S. Treasuries.

Oil rallied more than 1 percent and global stocks gained on the agreement, which is crucial for Greece to secure a 130 billion euro ($172 billion) bailout from the European Union and the International Monetary Fund. But risk assets eased back later in the day amid questions on whether the deal will be enough to avoid a messy default.   Continued...