CANADA FX DEBT-C$ rises as commodities firm; equities rise
* C$ rises 0.96 percent as flight to safety wanes
* Bond prices as TSX gains more than 1 pct; supply woes
By Jennifer Kwan
TORONTO, Jan 26 (Reuters) - The Canadian dollar shot higher against the U.S. currency on Monday, as commodity prices firmed and a rise in equity markets diminished the greenback's safe haven appeal.
Canadian bond prices were lower across the curve as money flowed to equities, while broader concerns of swelling supply continued to weigh.
At 9:37 a.m. (1437 GMT), the Canadian dollar was at C$1.2194 to the U.S. dollar, or 82.00 U.S. cents, up from C$1.2312 to the U.S. dollar, or 81.22 U.S. cents, on Friday.
"Generally firmer commodity prices are supporting our currency," said Sal Guatieri, senior economist at BMO Capital Markets. "As well, the tone in equity markets is a little better so we're seeing a little less risk aversion."
In choppy action, oil was above $47 a barrel, [ID:nSYD214552] while the price of gold rose above $900 an ounce level, lifted by interest in bullion as shelter from risk. Some base metals were also higher. [ID:nLQ181420]
Canada is a key exporter of oil and gold and the Canadian currency is often swayed by price fluctuations in commodities. Continued...