CANADA FX DEBT-C$ gets boost from U.S., German data

Thu Feb 23, 2012 4:45pm EST
 
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* C$ ends at C$0.9976 vs US$, or $1.0024

* Helped by U.S. labor data, German Ifo survey

* Bonds prices edge higher across curve

By Jennifer Kwan

TORONTO, Feb 23 (Reuters) - The Canadian dollar climbed against the U.S. currency on Thursday as upbeat U.S. labor market data spurred investor optimism the world's top economy was slowly mending.

The U.S. data showed new claims for unemployment benefits held at their lowest level since the early days of the 2008-09 recession.

"The continued improvement in the trend in initial claims is helping the mood a little bit today," said Benjamin Reitzes, senior economist and foreign exchange strategist at BMO Capital Markets.

"You're seeing broad U.S. dollar weakness across the board so there's a somewhat risk-on environment with stocks modestly higher. That's of course helping the Canadian dollar," Reitzes, said.

The Canadian dollar finished at C$0.9976 against its U.S. counterpart, or $1.0024, up from Wednesday's North American close at C$1.0004 versus the U.S. dollar, or 99.96 U.S. cents.   Continued...