C$ hits session high; central bank holds hawkish tone

TORONTO: The Canadian dollar strengthened to a session high against its US counterpart on Thursday after the Bank of Canada repeated language that confirms it is still looking at the possibility of raising interest rates.

The currency firmed to a session high of C$0.9834 to the US dollar, or $1.0169. It closed at C$0.9881 to the US dollar, or $1.0120, on Wednesday.

The Canadian dollar's rise also coincided with a news conference by European Central Bank President Mario Draghi.