By Commodity News Service Canada
Winnipeg, October 25 – The Canadian dollar was weaker against its
US counterpart at midday Friday, extending its losses for a third
consecutive day following Wednesday’s Bank of Canada announcement that
said inflation rates would remain below their 2% target longer than
expected, industry watchers said.
Reports that China’s central bank could raise interest levels in
the near-term were bearish, as it would slow global economic growth,
traders said.
However, gains seen in commodities, including crude oil and
copper, limited any further losses.
At 11:35 CDT Friday, the Canadian dollar was trading at US$0.9572
or US$1.0447, which compares with Thursday’s North American close of
US$0.9592, or US$=$1.0425.
At 11:35 CDT Friday, the Toronto Stock Exchange was up 12.72
points to sit at 13,337.47.
