CANADA FX-C$ strengthens after Bank of Canada rate decision

TORONTO Tue Dec 4, 2012 9:12am EST

TORONTO Dec 4 (Reuters) - The Canadian dollar extended gains against the U.S. dollar after the Bank of Canada held interest rates steady and kept its rate hike bias, repeating the formula it used in October despite weaker-than-expected economic growth.

The Canadian dollar strengthened to a session high of C$0.9926 vs the U.S. dollar, or $1.0075 after the news. This was stronger than just before the announcement and Monday's finish at C$0.9949, or $1.0051.

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