By Commodity News Service Canada
WINNIPEG, Feb. 21 (CNS Canada) The Canadian dollar was weaker Tuesday morning, as general strength in the US dollar index weighed on the currency.
At 9:35 CST Tuesday morning the Canadian dollar was at US$0.7605 or C$1.3149 which compares with Friday’s North American close of US$0.7634 or C$1.3099. Canadian markets were closed Monday for provincial holidays.
Renewed expectations for a US interest rate hike next month accounted for some of the strength in the US dollar, and resulting weakness in the loonie. The US Federal Reserve releases the minutes for its January meeting on Wednesday, and currency traders will be reading closely for signs of future moves.
Crude oil was higher on Tuesday, which provided some underlying support for the energy-linked Canadian dollar.
The TSX was up by 93.15 points at 9:35 CST to sit at 15,932.15.
