By MarketsFarm
WINNIPEG, Feb. 23 (MarketsFarm) – The Canadian dollar was weaker Thursday morning, as the Russian invasion of Ukraine led to large moves in the global financial markets.
At 9:06 a.m. CST Thursday morning the Canadian dollar was at US$0.7793 or US$1=C$1.2832, which compares with Wednesday’s close of US$0.7863 or US$1=C$1.2718.
Investors were backing away from riskier assets in favour of the safe-haven United States dollar, which weighed on the Canadian currency.
However, crude oil was also up sharply in response to the Russian attack, helping temper the declines in the loonie to some extent.
West Texas Intermediate was up by 5.9 per cent at US$97.49 per barrel.
The TSX was lower, down 169.88 points at 9:06 CST, trading at 20,574.29 points.
