CANADA FX DEBT-C$ slips in US$ rally but strengthens on crosses

Wed Mar 14, 2012 4:53pm EDT
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* C$ ends at C$0.9930 vs US$, or $1.0070

* C$ outperforms other commodity currencies

* Bond yields climb to 2012 highs

By Claire Sibonney

TORONTO, March 14 (Reuters) - The Canadian dollar dipped against the U.S. currency on Wednesday as the afterglow of the Federal Reserve's optimistic view of the U.S. economy and news that most U.S. banks passed stress tests boosted the greenback.

The U.S. dollar hit an 11-month high against the yen and a one-month peak versus the euro a day after the Fed upgraded its economic outlook amid a stream of U.S. data signaling a sustainable recovery.

The Fed also said most of the largest U.S. banks passed their annual stress test in a report that underscored the recovery of the financial sector.

"This is really a U.S.-dollar bid session and has been for the past few days," said Jack Spitz, managing director of foreign exchange at National Bank Financial.   Continued...