By Commodity News Service Canada
Winnipeg, December 3 – The Canadian dollar was weaker against its
US counterpart at midday Tuesday, as the loonie fell to a three-year
low earlier in the session amid positioning ahead of Wednesday’s Bank
of Canada (BoC) policy meeting, industry watchers said.
According to analysts, the BoC is expected to their overnight rate
at one per cent.
Concerns that the US Federal Reserve could slow its monetary
stimulus early in the New Year were also bearish.
However, gains seen in commodities, including gold and crude oil,
limited any further losses.
At 11:33 CST Tuesday, the Canadian dollar was trading at US$0.9376
or US$1.0665, which compares with Monday’s North American close of
US$0.9398, or US$=$1.641.
At 11:33 CST Tuesday, the Toronto Stock Exchange was down 112.43
points to sit at 13,307.14.
