WINNIPEG – The Canadian dollar moved further away from the 73 United States cent mark on Wednesday morning, pulled back by crude oil prices.
The loonie was at US$0.7282 or US$1=C$1.3732, down from US$0.7293 or US$1=C$1.3711 on Tuesday.
The U.S. Dollar Index retreated from levels unseen in 11 months, losing 0.32 of a point at 106.68.
Crude oil fell due to a selloff in financial markets, but Saudi Arabia said it will continue output cuts until the end of the year. Brent crude oil dropped US$1.66 at US$89.26 per barrel. West Texas Intermediate (WTI) lost US$1.70 at US$87.53/barrel.
The TSX/S&P Composite Index shed 16.73 points at 19,004.19.
Gold declined US$1.60 at US$1,839.90 per ounce.
