By MarketsFarm
WINNIPEG, March 19 (MarketsFarm) – The Canadian dollar was steady on Thursday morning, after dropping by nearly two cents yesterday.
At 8:40 CST Thursday morning the Canadian dollar was at US$0.6913 or C$1.4465 which compares with Wednesday’s North American close of US$0.6898 or C$1.4496.
The Canadian dollar was weakened by the United States Federal Reserve to strengthen the U.S. dollar. The Federal Reserve established temporary dollar liquidity swap-lines “in order to combat the economic meltdown from the coronavirus pandemic,” according to Bloomberg.
The TSX was down by 254.48 points at 8:40 CST to trade at 11,470.49 points.
Oil prices rebounded slightly after hitting their lowest levels in 18 years yesterday. West Texas Intermediate was up US$1.98 at US$22.35 per barrel, and Brent crude was higher by US$1.15 at US$26.03.
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