April 27, 2012 / 1:12 PM / 5 years ago

Canadian dollar recovers as US dollar slides after GDP data

TORONTO (Reuters) - The Canadian dollar hit a session high against its U.S. counterpart on Friday after the greenback weakened broadly following U.S. data that showed the American economy grew more slowly than expected in the first quarter.

The Canadian dollar firmed to a session high at C$0.9809 versus the U.S. currency, or $1.0195 shortly after the data was released. It had initially pared gains after the data’s release. It was at C$0.9821 immediately before the data and closed at C$0.9840 on Thursday.

Reporting By Jon Cook; Editing by Jeffrey Hodgson

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