August 31, 2012 / 2:27 PM / 6 years ago

Canadian dollar pares gains after Bernanke speech

TORONTO (Reuters) - Canada’s dollar pared gains against the U.S. currency on Friday morning after U.S. Federal Reserve Chairman Ben Bernanke did not clearly make the case for another round of stimulus in a key speech.

At 10:09 a.m. (1409 GMT), the Canadian dollar stood at C$0.9891 versus the greenback, or $1.0110, down from around C$0.9877, or $1.0125, before Bernanke’s speech.

The Canadian dollar had strengthened earlier in the session in the wake of data showing the country’s economy grew more than the market had expected in the second quarter and against a backdrop of positive news out of Europe.

Reporting by Solarina Ho; Editing by Peter Galloway

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