CANADA FX-Canadian dollar rebounds to hit session high

Thu Sep 10, 2009 11:24am EDT
 
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TORONTO, Sept 10 (Reuters) - The Canadian dollar CAD=D3 gained versus the U.S. currency on Thursday as Toronto's main stock index rose more than 1 percent on a rally by resource shares.

The Canadian dollar climbed to C$1.0795 to the U.S. dollar, or 92.64 U.S. cents, its highest level for the North American session, shortly after 11 a.m. (1500 GMT). However, it fell short of its overnight peak at C$1.0776 to the U.S. dollar, or 92.80 U.S. cents.

It was a touch firmer than Wednesday's close of C$1.0810 to the U.S. dollar, or 92.51 U.S. cents.

The currency trimmed its losses earlier in the session after the Bank of Canada upgraded its economic growth outlook while leaving its benchmark interest rate unchanged. [ID:nN10231469] (Reporting by Ka Yan Ng; editing by Rob Wilson)