Canadian Forex Midday: C$ drops to lowest level since July 2009

By Commodity News Service Canada

Winnipeg, January 28 – The Canadian dollar was significantly

weaker against its US counterpart at midday Tuesday, falling to its

lowest level since July 2009 amid worries about currencies in emerging

markets, industry watchers said.

Losses seen in commodities, including copper and gold, added to

the bearish tone.

Traders are also looking forward to Wednesday’s US Federal Reserve

interest rate meeting and to whether the Fed will taper its monthly

bond-buying program for a second consecutive month.

At 11:16 CST Tuesday, the Canadian dollar was trading at US$0.8964

or US$1.1155, which compares with Monday’s North American close of

US$0.8999, or US$=$1.1112.

At 11:16 CST Tuesday, the Toronto Stock Exchange was down 82.46

points to sit at 13,664.75.