CANADA FX DEBT-C$ skids to snap 4 days of gains, but up on week

Fri Mar 2, 2012 4:30pm EST
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* Ends at C$0.9886 vs US$, or $1.0115

* Up about 1 percent for the week

* Bond prices rise across the curve

By Jennifer Kwan

TORONTO, March 2 (Reuters) - The Canadian dollar retreated against its U.S. counterpart on Friday after touching a year-high this week, as the greenback climbed broadly amid a risk-off tone in global markets.

The euro fell against the U.S. dollar on revived worries about Europe's fiscal stability, while oil prices sank after touching 3-1/2 year highs and the stronger greenback weighed on gold prices.

"Equities are lower; commodities are lower, led by crude oil being down by two bucks. That, combined with the broader base U.S. dollar bid, has contained the dollar/Canada move today and positions are being squared against the weekend," said Jack Spitz, managing director of foreign exchange at National Bank Financial.

The Canadian dollar ended at C$0.9886 versus the U.S. dollar, or $1.0115, down from Thursday's North American finish at C$0.9859 versus the U.S. dollar, or $1.0143.   Continued...