By MarketsFarm
WINNIPEG, March 5 (MarketsFarm) The Canadian dollar was weaker Thursday morning, as losses in the global equity markets weighed on values.
At 9:29 CST Thursday morning the Canadian dollar was at US$0.7458 or C$1.3408 which compares with Wednesday’s North American close of US$0.7467 or C$1.3392.
Wednesday’s move by the Bank of Canada to lower its key overnight rate by half a percentage point contributed to the softer tone in the Canadian dollar.
Fears of the COVID-19 coronavirus weighed on world financial markets on Thursday, with increased infection reports out of China, school closures in Italy, and a state of emergency declared in California. The Dow Jones down by nearly 3 per cent and the TSX losing about 1.3 per cent.
The TSX was down by 223.68 points at 9:29 CST to trade at 16,555.85 points.
