By Commodity News Service Canada
WINNIPEG, May 29 (CNS Canada) The Canadian dollar was slightly weaker Tuesday morning, as investors weighed news that the federal Liberal government will buy the Trans Mountain pipeline for C$4.5 billion in order to ensure the expansion moves forward.
At 8:52 CDT Tuesday morning the Canadian dollar was at US$0.7680 or C$1.3021, which compares with Monday’s North American close of US$0.7692 or C$1.3001.
Losses in crude oil put some pressure on the energy-linked Canadian dollar, while a generally stronger tone for the U.S. dollar internationally was also bearish.
The Bank of Canada makes is set to make its latest interest rate announcement on Wednesday. Most investors expect the Bank will leave rates unchanged this month, although the accompanying statement will be followed closely for signs of future moves.
The TSX was weaker at 8:52 CDT, down 55.65 points at 15,960.49.
