1 Min Read
TORONTO, Sept 14 (Reuters) - The Canadian dollar touched a session high against the U.S. currency on Tuesday after stronger-than-expected U.S. retail sales data, which further eased fears of a double-dip recession.
Government data showed sales at U.S. retailers increased more than expected in August, notching their largest gain in five months on strong receipts at gasoline stations and clothing outlets. [ID:nN13206701]
Separately, a report showed Canada's industrial capacity use rose in the second quarter of 2010, the fourth consecutive increase, thanks to strength in both the manufacturing and non-manufacturing sectors. [ID:nN14247776]
At 8:32 a.m. (1232 GMT), the Canadian currency CAD=D3 hit C$1.0252 to the U.S. dollar, or 97.54 U.S. cents, then quickly extended gains to C$1.0246 to the U.S. dollar, or 97.60 U.S. cents, its highest since Aug. 6.
On Monday, the currency finished at C$1.0273 to the U.S. dollar, or 97.34 U.S. cents. (Reporting by Jennifer Kwan; Editing by Jeffrey Hodgson)