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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, March 23 (MarketsFarm) The Canadian dollar was weaker Monday morning, as continued strength in the U.S. dollar weighed on other international currencies.
     At 8:40 CDT Monday morning the Canadian dollar was at US$0.6934 or C$1.4422 which compares with Friday’s North American close of US$0.6977 or C$1.4332.
Global concerns over COVID-19 had investors looking to safe havens and exiting riskier assets, including the Canadian dollar.
Recent weakness in crude oil also continued to weigh on the energy-linked currency, although oil was slightly firmer to start the week.
In domestic data, Canada’s wholesale trade increased by 1.8 per cent in January to hit C$65.2 billion, according to a report from Statistics Canada.
The TSX was down by 163.87 points at 8:40 CDT to trade at 11,687.94 points.

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