Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Feb. 25 (MarketsFarm) – The Canadian dollar was stronger Thursday morning, moving above 80 U.S. cents for the first time in three years.
At 9:05 CST Thursday morning the Canadian dollar was at US$0.8011 or US$1=C$1.2483 which compares with Wednesday’s North American close of US$0.7969 or US$1=C$1.2548.
Broad weakness in the United States Dollar Index internationally accounted for the relative strength in the loonie, with recent comments out of the U.S. Federal Reserve pointing to a more dovish stance on interest rates going forward.
West Texas Intermediate was down by 0.3 per cent, at US$63.04 per barrel.
The TSX was up by 5.87 points at 9:05 CST to trade at 18,490.40 points.


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