By Commodity News Service Canada
Winnipeg, June 24 – The Canadian dollar was lower against its US counterpart at midday Wednesday, as continued uncertainty over whether or not Greece will secure a new deal with its creditors, kept investors worried.
The loonie was at US$0.8113 or US$1 = C$1.2232 at 11:50 CDT Wednesday morning. The pressure is building on Greek politicians to strike a repayment deal with their lenders as they are required to make a repayment to the IMF on June 30.
Canadian energy giants TransCanada Corp and Encana Corp announced they would slash jobs soon, as part of their restructuring efforts to deal with lower oil prices.
Setbacks in oil and gold also pressured the dollar.
On the commodity markets the August crude contract in New York decreased US0.73 to US$60.28 a barrel. The August gold contract dipped 3.70 to US$1,172.90 an ounce.
At 11:50 CDT Wednesday morning, the Toronto Stock Exchange was up 68.31 points to 14,973.59.
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