April 27, 2012 / 12:32 PM / in 6 years

Canadian dollar pares gains on soft U.S. GDP data

TORONTO (Reuters) - The Canadian dollar pared overnight gains against its U.S. counterpart on Friday after U.S. data showed the American economy, the destination for most Canadian exports, grew more slowly than expected in the first quarter.

The Canadian dollar softened to C$0.9835 versus the U.S. currency, or $1.0165, shortly after the data was released. It was at C$0.9821 immediately before the data and closed at C$98.40 on Thursday.

Reporting By Jon Cook; Editing by Jeffrey Hodgson

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