By MarketsFarm
WINNIPEG, June 8 (MarketsFarm) – The Canadian dollar was slightly firmer Thursday morning, as investors continued to adjust positions following Wednesday’s Bank of Canada interest rate hike.
At 8:44 a.m. CDT Thursday morning the Canadian dollar was at US$0.7485 or US$1=C$1.3360, which compares with Wednesday’s close of US$0.7476 or US$1=C$1.3376.
The Bank of Canada raised its key overnight rate by 25 points on Wednesday, taking it to 4.75 per cent. That brought interest rates to their highest level in 22 years, with many market participants now expecting another rate hike in July as the BoC works to contain inflation.
Crude oil was posting small gains, with West Texas Intermediate up by 0.25 per cent at US$72.71 per barrel.
The TSX was holding weaker, down 63.08 points at 8:44 CDT, trading at 19,920.61 points.
