By Commodity News Service Canada
Winnipeg, MB, January 22, 2014 (CNS Canada) – The Canadian dollar
was down over three-quarters of a cent against its US counterpart at
midday Wednesday, undermined by the Bank of Canada’s (BoC) dovish
interest rate announcement, industry watchers said.
According to the BoC, inflation is expected to remain lower-than-
anticipated until 2016, while the overnight rate was left unchanged at
1.00%.
Spillover from the losses seen in gold added to the bearish tone,
brokers said.
At 11:24 CST Wednesday, the Canadian dollar was trading at
US$0.9034 or US$1.1069, which compares with Tuesday’s North American
close of US$0.9114, or US$=$1.0972.
At 11:24 CST Wednesday, the Toronto Stock Exchange was down 15.57
points to sit at 13,967.34.
