By Commodity News Service Canada
WINNIPEG, March 22 (CNS Canada) The Canadian dollar was weaker Wednesday morning, with losses in crude oil behind some of the selling pressure.
At 9:17 CDT Wednesday morning the Canadian dollar was at US$0.7466 or C$1.3394 which compares with Tuesday’s North American close of US$0.7485 or C$1.3359.
Crude oil was down on Wednesday, hitting its softest levels in four months as larger-than-expected US inventories weighed on values.
Tuesday’s better-than-expected Canadian retail sales data remained somewhat supportive for the currency, as monthly sales saw their biggest increase in seven years. However, the failure of the loonie to hold onto gains on Tuesday,
The TSX was down by 55.78 points at 9:19 CDT to sit at 15,257.35.
