By MarketsFarm
WINNIPEG, March 23 (MarketsFarm) – The Canadian dollar was stronger Thursday morning, as currency markets continued to digest Wednesday’s interest rate decision from the United States Federal Reserve.
At 8:50 a.m. CDT Thursday morning the Canadian dollar was at US$0.7326 or US$1=C$1.3650, which compares with Wednesday’s close of US$0.7293 or US$1=C$1.3712.
The U.S. Fed raised key overnight rates by 25-basis points, which was widely anticipated. The accompanying statement was seen as indicating that there may be a pause in subsequent rate increases for the time being due to uncertainty in the global financial markets.
Crude oil was firm in early trade, with West Texas Intermediate up by 0.5 per cent at US$71.28 per barrel.
The TSX was increased by 115.73 points at 8:50 CDT, trading at 19,648.51 points.
