By Commodity News Service Canada
WINNIPEG, Oct. 26 (CNS Canada) The Canadian dollar was slightly weaker Wednesday morning, with losses in crude oil putting some spillover pressure on the energy-linked currency.
At 9:11 CDT Wednesday morning the Canadian dollar was at US$0.7483 or C$1.3364 which compares with Tuesday’s North American close of US$0.7490 or C$1.3352.
Crude oil was down amid ideas that OPEC would be unable to come up with a deal to cut production. Rising US supplies contributed to the weakness in oil, with prices dipping below US$50 per barrel.
Uncertainty over whether or not the Bank of Canada may be considering cutting interest rates within the next year also weighed on the currency.
The TSX was down 52.61 points at 9:11 CDT to sit at 14,818.02.
