By Commodity News Service Canada
Winnipeg, June 23 – The Canadian dollar was slightly lower against its US counterpart at midday Tuesday, overwhelmed by a wave of broad strength coming from the American greenback.
The loonie was at US$0.8113 or US$1 = C$1.2232 at 11:35 CDT Tuesday morning. A report indicated investors in the US dollar were covering short positions and that bonds remained under pressure.
The prospects for an interest rate hike later this year by the US Federal Reserve rose higher, traders said.
Optimism is growing that Greece will come to an agreement with its lenders, according to multiple reports.
On the commodity markets the August crude contract in New York decreased US0.64 to US$61.02 a barrel. The August gold contract dipped 6.50 to US$1,177.60 an ounce.
At 11:35 CDT Tuesday morning, the Toronto Stock Exchange was up 82.11 points to 14,872.59.
