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CANADA FX-Canadian dollar strengthens after GDP data

TORONTO, March 3 (Reuters) - The Canadian dollar hit its firmest level of the session against its U.S. counterpart on Tuesday after data showed that the Canadian economy grew by a higher-than-expected annualized rate of 2.4 percent in the fourth quarter.

The Canadian dollar hit C$1.2435 against the greenback, or 80.42 U.S. cents shortly after the data was released. This was stronger than just prior to the news and a full cent stronger than Monday’s finish at C$1.2535, or 79.78 U.S. cents. (Reporting by Solarina Ho; Editing by Chizu Nomiyama)

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