By Commodity News Service Canada
Winnipeg, December 27 – The Canadian dollar was significantly
weaker against its US counterpart at midday Friday, amid light trading
following the Christmas and Boxing Day holidays, market watchers said.
Weighing on the value of the loonie was the Bank of Canada’s (BoC)
recent projection to keep interest rates low for 2014 until the global
economy strengthens further. According to economists, it’s expected
that the BoC will not increase its benchmark interest rate until mid-
2015.
Losses seen in commodities, including gold and copper, added to
the loonie’s bearish tone.
At 11:35 CST Friday, the Canadian dollar was trading at US$0.9348
or US$1.0697, which compares with Tuesday’s North American close of
US$0.9417, or US$=$1.0619.
At 11:35 CST Friday, the Toronto Stock Exchange was up 66.16
points to sit at 13,584.18.
