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Canadian Financial Close: Loonie has highest close since July

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Glacier FarmMedia MarketsFarm – The Canadian dollar hit a five-month high on Wednesday as the United States dollar weakened.

The loonie closed at US$0.7573 or US$1=C$1.3205, compared to US$0.7543 or US$1=C$1.3258 on Friday. The Bank of Canada (BoC) did not publish a closing exchange rate on Dec. 25 (Christmas Day) and Dec. 26 (Boxing Day).

The U.S. Dollar Index was down 0.52 of a point at 100.95, around its lowest level since late August.

Crude oil dropped due to greater supply. Brent crude oil lost US$1.63 at US$79.44 per barrel. West Texas Intermediate (WTI) fell US$1.69 to US$73.88/barrel.

The TSX/S&P Composite Index grew 134.72 points to Wednesday at 21,015.91.

Gold rose US$19.10 at US$2,088.90 per ounce.

Canada’s agricultural sector fared as follows:

Buhler Ind.                      unchanged      at $  2.24

Farmer’s Edge Inc.               unchanged      at $  0.24

Linamar Corp.                    up  $ 0.02     at $ 64.74

Maple Leaf Foods                 up  $ 0.10     at $ 25.16

Nutrien Ltd.                     up  $ 0.27     at $ 75.96

RB Global Inc.                   up  $ 0.57     at $ 88.01

(All figures are in Canadian dollars.)