CANADA FX-C$ pares losses briefly after CPI data

Fri Aug 19, 2011 7:12am EDT
 
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TORONTO Aug 19 (Reuters) - Canada's dollar edged higher against the U.S. currency on Friday, though was still weaker on the day, after data showed Canada's annual inflation rate eased in July.

The inflation rate dipped to 2.7 percent from 3.1 percent in June, in part because the introduction of higher sales taxes in three provinces is no longer included in calculations, Statistics Canada said on Friday. [ID:nSCLJJE70X]

The currency rose as high as C$0.9898 to the U.S. dollar, or $1.0103, up from around C$0.9912 to the U.S. dollar, or $1.0089 just ahead of the data. But it was still weaker than Thursday's session close at C$0.9884 to the U.S. dollar, or $1.0117. ( Reporting by Ka Yan Ng , Editing by W Simon )