CANADA FX-C$ hits session high, then reverses after Fed

Tue Aug 9, 2011 2:32pm EDT
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TORONTO Aug 9 (Reuters) - Canada's dollar was volatile against the U.S. currency on Tuesday after the U.S. Federal Reserve said it will keep its hefty monetary policy stimulus for at least another two years.

Canada's currency CAD=D4 rose as high as C$0.9885 to the U.S. dollar, or $1.0116, then quickly erased most of those gains. It was last at C$0.9905 to the U.S. dollar, or $1.0096, just a touch firmer than Monday's North American session close at C$0.9909 to the U.S. dollar, or $1.0092. (Reporting by Ka Yan Ng; Editing by Jeffrey Hodgson)