March 6, 2013 / 3:11 PM / in 5 years

CANADA-FX-C$ weakens sharply after Bank of Canada softens hike stance

TORONTO, March 6 (Reuters) - The Canadian dollar weakened to a session low against the U.S. dollar on Wednesday after the Bank of Canada softened its stance on the need for interest rate hikes.

The Canadian dollar weakened to C$1.0328 to the greenback, or 96.83 U.S. cents, compared with C$1.0288 just before the central bank announcement and $1.0280 at Tuesday’s North American close.

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