By Commodity News Service Canada
WINNIPEG, July 9 (CNS Canada) The Canadian dollar was stronger Monday morning, as investors adjust positions ahead of a potential interest rate hike from the Bank of Canada later in the week.
At 9:12 CDT Monday morning the Canadian dollar was at US$0.7649 or C$1.3074, which compares with Friday’s North American close of US$0.7631 or C$1.3105.
The Bank of Canada is set to make its latest interest rate announcement on Wednesday, and investors generally expect to see the key overnight rate raised to 1.5 per cent.
Ongoing world trade uncertainty kept some caution the financial markets.
Crude oil was slightly weaker in early activity, putting some pressure on the energy-linked Canadian currency.
The TSX was stronger at 9:13 CDT, up 45.22 points at 16,417.00.
