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Canadian dollar and business outlook

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Published: May 3, 2017

By Commodity News Service Canada

WINNIPEG, May 3 – The Canadian dollar dropped against its US counterpart on Wednesday, falling ahead of an interest rate decision from the US Federal Reserve.

The Fed will be wrapping up its two-day monetary policy meeting later on Wednesday. Many analysts expect policymakers will hold interest rates steady—which kept the loonie near a 14-month-low.

At 8:50 CDT Wednesday, the Canadian dollar was at US$0.7285 or US$=C$1.3727, which compares with Tuesday’s North American close of US$0.7289 or US$1=C$1.3720.

There was no significant economic data released by Statistics Canada on Wednesday.

The TSX was up 2.76 points at 8:50 CDT Wednesday morning to sit at 15,622.41.

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