CANADA FX DEBT-C$ strengthens to 2-wk high as commodities surge

Wed Jun 29, 2011 1:59pm EDT
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* C$ rises to C$0.9703 to US$, or $1.0306

* Touches strongest level since June 15

* Higher oil, commodity prices drive gains

* Unexpectedly high Canadian inflation data supports

* Bonds lower, Canada underperforms Treasuries

By Trish Nixon

TORONTO, June 29 (Reuters) - Canada's dollar firmed by more than a penny to hit a two-week high on Wednesday, boosted by unexpectedly strong inflation data and the approval of a Greek austerity plan that fueled buying of commodity-linked currencies.

Commodities, global stocks and the euro all rose after Greece's parliament approved a five-year austerity plan designed to prevent the country from going bankrupt. [MKTS/GLOB]

"It seems like we're being dragged along by general risk-sentiment", sad David Watt, senior currency strategist at RBC Capital Markets.   Continued...