Glacier FarmMedia — The Canadian dollar was weaker on Thursday, as its United States counterpart regained lost ground in international trade.
The Canadian dollar settled at US$0.7271 or US$1=C$1.3753, which compares with Wednesday’s close of US$0.7293 or US$1=C$1.3712.
Talk that U.S. President Donald Trump was set to fire Federal Reserve Chair Jerome Powell had roiled currency markets on Wednesday, but Trump later walked back those comments.
Canada’s economy saw a net outflow of C$16.2 billion in May, as Canadian investors acquired C$13.4 billion of foreign securities during the month and foreign investors reduced their Canadian holdings by C$2.8 billion, reported Statistics Canada. that marked the fourth consecutive month of net outflows.
Crude oil was stronger, with West Texas crude oil up by 1.85 per cent at US$67.61 per barrel.
The TSX Composite Index climbed 233.96 points, setting a new record to close at 27,386.93 points.
