By Phil Franz-Warkentin
Glacier FarmMedia MarketsFarm – The Canadian dollar was slightly softer Thursday morning, backing away from the five-week highs relative to its United States counterpart hit Wednesday.
At 8:43 a.m. CDT the Canadian dollar was trading at US$0.7334 or US$1=C$1.3635, which compares with Wednesday’s close of US$0.7345 or US$1=C$1.3615.
Gains in crude oil provided some underlying support to the energy-linked currency. West Texas Intermediate crude oil was up by 1.39 per cent at US$79.72 per barrel.
The TSX was stronger, up 19.64 points at 8:43 CDT to trade at 22,304.40 points.
