August 15, 2012 / 3:12 PM / 5 years ago

CANADA FX-Canadian dollar hits highest level since early May

1 Min Read

Aug 15 (Reuters) - The Canadian dollar hit its highest level more than three months on Wednesday, as U.S. data renewed expectations the U.S. Federal Reserve could move ahead with stimulus action.

The Canadian currency touched a session high at C$0.9892 versus the U.S. dollar, or $1.011 after data on Wednesday showed U.S. consumer prices were unchanged in July, giving the Federal Reserve room for further monetary stimulus. The currency had hit C$0.9862, or $1.014 back on May 4.

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