By Commodity News Service Canada
WINNIPEG, Dec. 12 (CNS Canada) The Canadian dollar was holding steady Tuesday morning, as currency traders keep to the sidelines ahead of the U.S. Federal Reserve interest rate announcement on Wednesday.
At 9:05 CST Tuesday morning the Canadian dollar was at US$0.7773 or C$1.2865, which compares with Monday’s North American close of US$0.7780 or C$1.2854.
Market participants generally expect that the U.S. Fed will raise interest rates on Wednesday, which would weigh on the Canadian dollar as the Bank of Canada is thought to be holding steady for the time being.
Losses in crude oil weighed on the energy-linked Canadian dollar.
The TSX was stronger at 9:05 CST, up 17.19 points at 16,120.70.
