CANADA FX-Canadian dollar rises above 99 U.S. cents

Wed Mar 17, 2010 9:49am EDT
 
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 TORONTO, March 17 (Reuters) - The Canadian dollar rallied
above 99 U.S. cents on Wednesday morning, its highest level in
20 months, putting it a step closer to being on an equal
footing with the U.S. dollar.
 Supported by firm commodity prices, lingering euphoria from
a renewed pledge by the U.S. Federal Reserve to keep interest
rates low for an extended period, and a bigger than expected
jump in wholesale trade data, the Canadian dollar rose to
C$1.0099 to the U.S. dollar, or 99.02 U.S. cents.
 That is up from Tuesday's close at C$1.0140 to the U.S.
dollar, or 98.62 U.S. cents. It has finished higher in 12 of
the last 13 sessions.
 (Reporting by Ka Yan Ng; editing by Peter Galloway)