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Canadian dollar and business outlook

| 1 min read

By Phil Franz-Warkentin

Glacier FarmMedia MarketsFarm – The Canadian dollar was softer Monday morning as currency traders await the latest interest rate announcement from the United States Federal Reserve on Wednesday.

At 9:11 a.m. CDT the Canadian dollar was trading at US$0.7221 or US$1=C$1.3848, which compares with Friday’s close of US$0.7231 or US$1=C$1.3830.

General expectations are that the Fed will hold rates steady for the time being, but the accompanying statement will be followed closely for hints at future moves.

Crude oil was steady Monday morning, with West Texas Intermediate crude oil up by 0.06 per cent at US$77.21 per barrel.

The TSX was stronger, up by 42.85 points at 22,587.66 at 9:11 CDT.