WINNIPEG – The Canadian dollar remained above the 75 United States cent mark on Wednesday hours before the Federal Reserve makes its latest key interest rate decision.
The loonie was at US$0.7523 or US$1=C$1.3293, up from US$0.7513 or US$1=C$1.3310 on Tuesday.
The U.S. Dollar Index dropped 0.48 of a point at 102.86. The Fed is expected to leave interest rates unchanged due to the country’s shrinking inflation rate. It would be the first time in 15 months that the U.S. central bank will not raise interest rates.
Crude oil was up on Wednesday after China implemented new import quotas. Brent crude oil was up US$0.99 to US$75.28 per barrel. West Texas Intermediate (WTI) gained US$0.98 at US$70.40/barrel.
The TSX/S&P Composite Index added 97.11 points to 20,087.51.
Gold jumped US$12.00 per ounce to US$1,970.60.
