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Canadian dollar and business outlook

By Commodity News Service Canada

WINNIPEG, March 14 (CNS Canada) – The Canadian dollar was slightly weaker Wednesday morning, although still well off its recent lows as the market took a breather after Tuesday’s sharp decline.

At 9:11 CDT Wednesday morning the Canadian dollar was at US$0.7722 or C$1.2950, which compares with Tuesday’s North American close of US$0.7745 or C$1.2912.

Crude oil was slightly firmer in early activity, providing some underlying support for the energy-linked Canadian dollar.

Softer-than-expected U.S. retail sales data for February also lent some relative strength to the Canadian currency.

The TSX was stronger at 9:11 CDT, up 60.03 points at 15,707.17.

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