By Commodity News Service Canada
WINNIPEG, Feb. 25 – The Canadian dollar strengthened relative to the US dollar Wednesday morning, finding some support from the advances seen in crude oil values, analysts said.
At 8:55 CST Wednesday, the Canadian dollar was at US$0.8036 or US$=C$1.2444, which compares with Tuesday’s North American close of US$0.8003 or US$1=C$1.2496.
Easing worries that the Bank of Canada will make further interest rate cuts, after the bank’s governor wasn’t as dovish as expected during a speech Tuesday, added to the bullish tone.
However, ongoing concerns about political and economic problems in Europe limited the upside, according to market watchers.
The TSX was up 36.38 points, or 0.24%, at 8:55 CST Wednesday morning to sit at 15,201.35.
