Canadian Forex Midday: C$ Strengthens

By Commodity News Service Canada

WINNIPEG, Sept. 18 – The Canadian dollar was slightly firmer at midday Friday, but well off its earlier highs relative to its US counterpart as currency traders adjusted positions ahead of the weekend.
At 11:57 CDT, the Canadian dollar was trading at US$0.7602 or US$1=C$1.3154 which compares with Thursday’s close of US$0.7591 or US$=C$1.3174.
Reaction to Thursday’s US Federal Reserve decision to keep interest rates unchanged for the time being remained a primary driver in the financial markets on Friday. While the resulting weakness in the US dollar internationally accounted for some relative strength in the Canadian currency, losses in crude oil and equities were somewhat bearish.
In domestic data, the consumer price index rose 1.3 per cent in the 12 months to August, matching the increase in July, Statistics Canada said in a report on Friday.
At midday Friday the Toronto Stock Exchange was weaker, down 135.77 points at 11:57 CDT, to sit at 13,651.39.