By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar fell nearly two-tenths of a cent on Wednesday, with pressure coming from an increase in the United States dollar and declines in crude oil.
The loonie closed at US$0.7234 or US$1=C$1.3823 compared to Tuesday’s finish of US$0.7252 or US$1=C$1.3789.
On the U.S. Dollar Index, the greenback bumped up 0.148 of a point at 98.465.
Benchmark crude oil prices stepped back on Wednesday, after the Trump administration said the U.S. will control Venezuelan oil sales indefinitely.
West Texas Intermediate lost 83 cents at US$56.30 per barrel, while Brent crude was down 39 cents at US$60.31.
The TSX Composite Index dropped 271.53 points on Wednesday to close at 32,135.49.
Gold gave up US$31.80 at US$4,464.30 per ounce.
