April 17, 2012 / 1:13 PM / 6 years ago

CANADA FX-C$ firms after Bank of Canada rate decision

TORONTO, April 17 (Reuters) - The Canadian dollar firmed to a session high against its U.S. counterpart on Tuesday after the Bank of Canada said it may need to start hiking rates due to firmer-than-expected growth and inflation as well as a less hostile global backdrop.

The Canadian dollar firmed to a session high at C$0.9912 versus the U.S. dollar, or $1.0088, shortly after the release. It was at C$0.9958 versus the U.S. dollar, or $1.0042, just prior to the release.

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