By MarketsFarm
WINNIPEG, Jan. 20 (MarketsFarm) – The Canadian dollar was holding relatively steady Thursday morning, seeing some continued strength after Wednesday’s move above the 80 U.S. cent level.
At 8:42 a.m. CST Thursday morning the Canadian dollar was at US$0.8010 or US$1=C$1.2484 which compares with Wednesday’s close of US$0.8005 or US$1=C$1.2492.
Surging Canadian inflation, at its highest point in over 30 years in the latest data, has raised expectations for an interest rate hike from the Bank of Canada. The Bank makes its next policy announcement next week.
Crude oil was slightly softer in early activity. West Texas Intermediate was down by 0.20 per cent at US$85.63 per barrel.
The TSX was stronger, up 54.53 points at 8:42 CST, trading at 21,259.69 points.
