Glacier FarmMedia – The Canadian dollar had its highest close in more than a month on Wednesday, after the Bank of Canada made its latest interest rate announcement.
The loonie rose to US$0.7186 or US$1=C$1.3916, compared to US$0.7164 or US$1=C$1.3959 on Tuesday. Earlier today, the BoC cut its key interest rates by 25 basis points at 2.25 per cent.
The United States Dollar Index was up 0.43 of a point at 99.10. The Federal Reserve also reduced its key interest rates by 25 basis points, using private sector data to guide its decision.
Read Also
Canadian Financial Close: All time record highs for TSX, gold
By Glen Hallick Glacier FarmMedia – The Canadian dollar climbed more than a quarter of a cent on Wednesday, following…
Crude oil prices were up after Gaza attacked Israel and amidst optimism prior to Trump and Xi’s meeting. West Texas Intermediate added US$0.19 per barrel at US$60.34. Brent crude oil advanced US$0.39/barrel at US$64.79.
The TSX/S&P Composite Index fell 274.90 points to close at 30,144.78, with most of the drop happening after the Fed’s announcement.
Gold continued its extended selloff by losing US$39.40 per ounce at US$3,951.70.
