The Canadian dollar ended stronger against its US counterpart on Friday as speculation that Europe was closer to solving its debt crisis revived risk appetite, sinking the safe-haven greenback. Optimism on Europe and the possibility of more action from the US Federal Reserve spurred the largest daily drop in the US dollar since August and sent investors to riskier assets including stocks and commodity-linked currencies such as the Canadian dollar.
The Canadian dollar ended the North American session at C$1.0087 to the US dollar, or 99.14 US cents, close to the session high of C$1.0067 and well above Thursday's North American session close of C$1.0150, or 98.52 US cents. The rise left the currency little changed on the week, just above last Friday's close at C$1.0105 versus the US dollar, or 98.96 US cents.
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