CANADA FX DEBT-C$ higher as equities rise on stimulus hopes

Fri Jan 16, 2009 11:01am EST
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* C$ up after falling five straight sessions

* Bonds lower across curve; Toronto stocks higher

By Jennifer Kwan

TORONTO, Jan 16 (Reuters) - The Canadian dollar rose on Friday after falling five straight sessions against the U.S. currency, helped by signs of strength in North American stocks.

The rise came after the Canadian currency touched its weakest level in a month against the U.S. currency on Thursday.

Canada bond prices were lower, following U.S. Treasuries, hurt by the rise in equities.

At 10:28 a.m. (1528 GMT), the Canadian currency was at C$1.2429 to the U.S. dollar, or 80.46 U.S. cents, up from C$1.2515 to the U.S. dollar, or 79.90 U.S. cents, on Thursday.

Earlier, the Canadian currency rallied as high as C$1.2313 to the U.S. dollar, or 81.21 U.S. cents.

U.S. stocks rose on Friday after the announcement of a $20 billion government bailout for Bank of America (BAC.N: Quote) late on Thursday helped reassure investors.   Continued...