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TORONTO, Jan 7 (Reuters) - The Canadian dollar stretched early gains to a fresh session high against the greenback on Friday in volatile trade after U.S. nonfarm payrolls data for December came in well below market expectations.
The currency CAD=D4 reached C$0.9899 to the U.S. dollar, or $1.0102, compared with C$0.9924 to the U.S. dollar, or $1.0077 going into the release of U.S. jobs figures.
Canada's dollar initially pared gains on the news that the U.S. economy created far fewer jobs than expected but recovered and climbed as the unemployment rate dropped to its lowest in more than 1-1/2 years. For details see [ID:nN06134458].
Earlier the currency firmed as data showed the domestic economy added 22,000 jobs in December compared with 15,200 in November, and more than the 17,500 forecast. The unemployment rate held steady at 7.6 percent for a second month. For details see [ID:nnSCL7CE78A]. (Reporting by Ka Yan Ng; Editing by James Dalgleish)