RTRS: US dollar slumps as talk of monetary easing weighs
TORONTO (Reuters) - Canada's dollar firmed to a session high against its U.S. counterpart on Thursday even as domestic data showed the country's economy shrank in July, as expected.
At 8:30 a.m. (1230 GMT), the Canadian dollar was at C$1.0276 to the U.S. dollar, or 97.31 U.S. cents, up from Wednesday's finish at C$1.0340 to the U.S. dollar, or 96.71 U.S. cents.
The firmness comes as U.S. data showed economic growth was a touch higher in the second quarter than previously estimated due to upward revisions to consumer spending and business inventories, but a surge in imports kept the recovery on a weak path, a government report showed on Thursday.
