Canadian Forex Midday: C$ strengthens significantly

By Commodity News Service Canada

Winnipeg, January 3 – The Canadian dollar was significantly
stronger against its US counterpart at midday Friday, as a lack of
fresh economic news throughout the week has the loonie trading in a
narrow range, industry watchers said.
The Canadian dollar did get bumped higher from the gains seen by
gold.
Traders are also positioning themselves ahead of afternoon
comments from US Federal Reserve Chairman Ben Bernanke, participants
said. The Fed cut US$10 billion of its US$85 billion of monthly bond
purchases last month.
At 11:34 CST Friday, the Canadian dollar was trading at US$0.9428
or US$1.0606, which compares with Thursday’s North American close of
US$0.9369, or US$=$1.0673.
At 11:34 CST Friday, the Toronto Stock Exchange was down 47.39
points to sit at 13,546.80.