CANADA FX-C$ weakens to parity after BoC says hike "less imminent"

TORONTO Wed Jan 23, 2013 10:44am EST

TORONTO Jan 23 (Reuters) - The Canadian dollar fell back below parity against the U.S. dollar on Wednesday, to its weakest level in more than two months after the Bank of Canada dramatically revised its projections to say any rate increase would be further away than previously thought.

The currency softened to C$1.0005, or 99.95 U.S. cents, from around C$0.9930, or $1.0070, immediately before the central bank's policy statement. It was the weakest level for the currency since Nov. 19.

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