CANADA FX DEBT-Greece, data drive C$ to stronger finish

Thu Jun 30, 2011 5:16pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

* C$ firms to C$0.9645 to the U.S. dollar, or $1.0368

* Hits strongest point since May 13

* Relief over Greek debt improves risk appetite

* Better-than-expected Canadian data supports

* Bond prices lower across curve

By Trish Nixon

TORONTO, June 30 (Reuters) - Canada's dollar strengthened to a near seven-week high against the greenback on Thursday, boosted by a surge in commodity prices, easing of Greece's debt woes and slightly better-than-expected domestic economic data.

The currency rose for a fourth day as world stocks and the euro rallied after Greece approved the final austerity measures needed to secure international funding and avert imminent bankruptcy. The news also boosted commodity prices. [MKTS/GLOB]

"The external factors are the key here," said Paul Ferley, assistant chief economist at Royal Bank of Canada, pointing to stronger commodity prices and developments in Europe.   Continued...