By MarketsFarm
WINNIPEG, Feb. 16 (MarketsFarm) – The Canadian dollar was stronger Wednesday morning, as currency traders continued to weigh the conflicting reports coming out of Russia and Ukraine.
At 8:48 a.m. CST Wednesday morning the Canadian dollar was at US$0.7885 or US$1=C$1.2682, which compares with Tuesday’s close of US$0.7849 or US$1=C$1.2741.
The minutes of the United States Federal Reserve’s January meeting will be released later on Wednesday, which could provide some direction for the currency markets.
Crude oil was higher on Wednesday, underpinned by the uncertain situation along the Ukrainian border. While there were reports on Tuesday that Russian troops were pulling back from the border, NATO and U.S. officials claimed there was no proof of de-escalation.
West Texas Intermediate was up by 1.41 per cent at US$93.37 per barrel.
The TSX was lower, down 93.74 points at 8:48 CST, trading at 21,408.81 points.
