CANADA FX DEBT-C$ higher on higher equities, commodities

Fri Apr 24, 2009 4:32pm EDT
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* C$ finishes at 82.67 U.S. cents

* C$ gains momentum after Bank of Canada policy news

* Bond prices lower as equities climb (Adds details, quotes)

By Jennifer Kwan

TORONTO, April 24 (Reuters) - The Canadian dollar rose on Friday, lifted by a rally in global equities and commodity prices, and on momentum from this week's Bank of Canada policy announcements.

North American stock markets rose on Friday, helped in part by better than expected corporate results and after a highly anticipated paper on government stress tests for U.S. banks, aimed at ensuring they have enough capital in reserve to continue to lend in potentially bleaker conditions. [ID:nN24404483]

"The way equities have performed it's been one of those days where the commodity currencies have done better," said Steve Butler, director of foreign exchange trading at Scotia Capital.

Broad U.S. dollar weakness also helped lift the Canadian currency, added Butler.

The Canadian dollar continued to gain momentum following a report on Thursday by the Bank of Canada that surprised markets with a go-slow approach to injecting additional economic stimulus through unconventional measures.   Continued...