Forex: USD/CAD rises to 1.0740 after the NFP data

06 November 2009 @ 08:50 am EDT

FXstreet.com (Barcelona) - The Dollar has risen against the Canadian to trade at daily highs after the worst than expected unemployment data released today. USD/CAD has climbed 50 pips in the minutes following data from 1.0690 to hits intra-day high at 1.0740.

Currently USD/CAD is trading around 1.0735/45, extending gains from 1.0605 in the European session and reaching 1.00% daily gains from opening price action at 1.0647.

U.S. non farm-payrolls have declined by 190,000 in October, somewhat above the 175,000 decline expected by the analysts, while the unemployment rate has risen 0.4% to 10.2%, the Dollar has soared across the board.

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