By Commodity News Service Canada
WINNIPEG, July 10 – The Canadian dollar was weaker on Monday, tracking losses in crude oil.
Crude futures declined on Monday, with reports of increased drilling in the US and increasing global supplies.
Speculation about whether or not the Bank of Canada will raise interest rates later this week added to the downside.
At 9:13 CDT Monday, the Canadian dollar was at US$0.7756 or US$=C$1.2893, which compares with Friday’s North American close of US$0.7760 or US$1=C$1.2887.
There was no significant domestic economic data released by Statistics Canada on Monday.
The TSX was up 42.44 points at 9:13 CDT Monday morning to sit at 15,069.60.
