Canadian Financial Close: C$ at two-week highs

Glacier FarmMedia | MarketsFarm — The Canadian dollar was stronger on Wednesday, hitting its strongest levels in two weeks relative to its United States counterpart amid reduced expectations for a rate cut from the Bank of Canada in June.

The Canadian dollar settled at US$0.7221 or US$1=C$1.3848, which compares with Tuesday’s close of US$0.7176 or US$1=C$1.3935.

Crude oil was weaker, with West Texas crude oil down by 1.13 per cent at US$61.33 per barrel.

The TSX Composite Index lost 216.46 points to close at 25,839.17 points.