CANADA FX DEBT-C$ hits highest level since mid-October

Wed May 20, 2009 10:07am EDT
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TORONTO May 20 (Reuters) - Canada's currency shot to its highest level in more than seven months on Wednesday, lifted by strong oil prices, equities and domestic inflation data that was seen making it less likely that the Bank of Canada will embark on quantitative easing.

The Canadian dollar CAD=D3 rose to C$1.1399, or 87.73 U.S. cents, its highest level since Oct. 14. On Tuesday, the currency finished at C$1.1563 to the U.S. dollar, or 86.48 U.S. cents. (Reporting by Jennifer Kwan; Editing by Jeffrey Hodgson)