CANADA FX DEBT-C$ rallies as oil prices jump, equities gain

Wed Feb 17, 2016 5:21pm EST
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(Adds trader comment, updates prices)

* Canadian dollar ends at C$1.3705, or 72.97 U.S. cents

* Bond prices lower across the maturity curve

By Alastair Sharp

TORONTO, Feb 17 (Reuters) - The Canadian dollar hits its highest level in almost two weeks on Wednesday, helped by a surge in crude oil prices and a stock market rally.

Crue oil rose 7.0 percent after Iran voiced support for a Russia-Saudi-led move to freeze production to deal with a market glut, while Canada's main stock index jumped to its highest since early January.

"Walking in the office at 6:30 this morning it seemed like it was going to be a risk-on kind of day and it certainly turned out to be that way," said David Bradley, a director of foreign exchange trading at Scotiabank.

The Canadian dollar settled at C$1.3705 to the greenback, or 72.97 U.S. cents, much stronger than Tuesday's official close of C$1.3881, or 72.04 U.S. cents.

The currency's strongest level of the session was C$1.3669, its strongest since reaching C$1.3640 on Feb 4.   Continued...