Canadian dollar rises after higher Canada inflation

Thu Feb 18, 2010 7:09am EST
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LONDON (Reuters) - The Canadian dollar rose on Thursday after data showed inflation in the country rose slightly higher than expected.

Canada's annual inflation rate in January jumped to 1.9 percent from 1.3 percent in December on higher gasoline and car prices, Statistics Canada said on Thursday.

Expectations had been for a year-on-year reading of 1.8 percent.

The Canadian dollar rose to around C$1.0450 from C$1.0466 ahead of the data.

(Reporting by Neal Armstrong and Naomi Tajitsu)