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Canadian Dollar and Business Outlook: Loonie surpasses 74 United States cents

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Glacier FarmMedia MarketsFarm – The Canadian dollar was on the rise on Thursday morning.

The loonie was at US$0.7416 or US$1=C$1.3484 as of 8:30 a.m. CST, compared to US$0.7392 or US$1=C$1.3528. The Bank of Canada (BoC) announced on Wednesday it will leave its key interest rate of five per cent unchanged.

The United States Dollar Index was down 0.18 of a point at 103.19.

Crude oil prices were lower on Thursday. Brent crude oil was down US$0.36 at US$82.60 per barrel. West Texas Intermediate (WTI) dropped US$0.46 at US$78.67/barrel.

The TSX/S&P Composite Index advanced 104.17 points at 21,698.13.

Gold was up US$5.00 at US$2,163.20 per ounce.