CANADA FX-Canadian dollar extends gains, hits 10-week high

by on July 27, 2012 5:47 pm BST

TORONTO, July 27 |
Fri Jul 27, 2012 1:47pm EDT

(Reuters) – Canada’s dollar rose to its
strongest level since mid-May on growing expectations the
European Central Bank will take action to tackle the region’s
sovereign debt crisis and hopes of further stimulus by the U.S.
Federal Reserve.

The Canadian dollar climbed to C$1.0035 versus the
U.S. dollar, or 99.65 U.S. cents, up from Thursday’s North
American’s session close at C$1.0096 against the U . S. dollar, or
99.05 U.S. cents.