By Commodity News Service Canada
WINNIPEG, September 14 – The Canadian dollar weakened further against its US counterpart Wednesday morning, tracking losses in crude oil.
New York Mercantile crude oil futures fell more than one per cent in early activity, which is bearish for the loonie.
At 8:48 CDT Wednesday, the Canadian dollar was at US$0.7572 or US$=C$1.3206, which compares with Tuesday’s North American close of US$0.7593 or US$1=C$1.3170.
In Canadian domestic data, the country’s net foreign asset position decreased by C$106.8 billion in the second quarter to C$149.0 billion, Statistics Canada said in a report on Wednesday.
The TSX was up 30.68 points, at 8:48 CDT Wednesday morning to sit at 14,379.78.
