By Commodity News Service Canada
WINNIPEG, Feb. 14 (CNS Canada) The Canadian dollar was weaker Wednesday morning, as solid U.S. inflation data moved gave the U.S. dollar a boost at the expense of other currencies.
At 9:10 CST Wednesday morning the Canadian dollar was at US$0.7921 or C$1.2625, which compares with Tuesday’s North American close of US$0.7937 or C$1.2600.
The U.S. annual rate of inflation hit 2.1 per cent in January, which was well above expectations for 1.9 per cent growth. The strong inflation added to expectations for an interest rate hike from the Federal Reserve sooner, rather than later.
Losses in crude oil added to the softer tone in the Canadian dollar.
The TSX was weaker at 9:10 CST, down 5.82 points at 15,210.65.
