September 4, 2009 / 12:54 PM / in 11 years

CANADA FX-C$ gets boost after upbeat U.S. jobs data

TORONTO, Sept 4 (Reuters) - Canada’s currency hit a session high versus the greenback on Friday following data that showed the U.S. economy shed fewer jobs than expected in August.

The report boosted the Canadian dollar to C$1.0885 to the U.S. dollar, or 91.87 U.S. cents, up from a pre-data level of about C$1.0948 to the U.S. dollar, or 91.34 U.S. cents.

The gains added to an earlier surge that was recorded after data showed Canada’s economy unexpectedly added 27,100 jobs in August [ID:nN04153956]

The U.S. data showed employers cut a fewer-than-expected 216,000 jobs in August, while the unemployment rate rose to a 26-year high. [ID:nN03530870]

By 8:45 a.m. (1245 GMT), the Canadian dollar had retreated a touch to C$1.0935 to the U.S. dollar, or 91.45 U.S. cents, which was still up from C$1.1033 to the U.S. dollar, or 90.64 U.S. cents, at Thursday’s close. (Reporting by Frank Pingue; Editing by Jeffrey Hodgson)

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