Canada's dollar edged higher against the US currency on Friday, but lost most of its big early gains as it tracked a sliding euro. The euro tumbled against the greenback after a report, later denied, that suggested Greece was considering leaving the euro zone. Other risk-related currencies such as the Canadian dollar were dragged down with the euro.
The Canadian currency had made solid gains earlier in the session, triggered by unexpectedly strong Canadian and US jobs data. Spiegel Online reported that euro zone finance ministers were meeting in Luxembourg on Friday to discuss Greece, including the issue of its possible exit from the currency bloc. The Greek finance ministry, however, denied the country had raised the possibility of leaving the euro zone.
The Canadian dollar rallied as high as C$0.9573 to the US dollar, or $1.0446, following the jobs data. But it soon succumbed to safe-haven US dollar strength and volatile trading in commodity markets as oil prices extended losses following a 10 percent plunge on Thursday.
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