By MarketsFarm
WINNIPEG, Feb. 1 (MarketsFarm) – The Canadian dollar was firmer Wednesday morning, as currency traders adjusted positions ahead of an interest rate announcement from the United States Federal Reserve.
At 8:40 a.m. CST Wednesday morning the Canadian dollar was at US$0.7513 or US$1=C$1.3310, which compares with Tuesday’s close of US$0.7491 or US$1=C$1.3350.
General expectations are for the U.S. Fed to raise rates by 25 basis points later today, with the accompanying statement to be followed closely for signs of future moves.
Crude oil was holding relatively steady in early activity, with West Texas Intermediate up by 0.14 per cent at US$78.98 per barrel.
The TSX was down by 24.79 points at 8:40 CST, trading at 20,742.79 points.
