By MarketsFarm
WINNIPEG, Dec. 7 (MarketsFarm) – The Canadian dollar was stronger Tuesday morning, seeing a continuation of Monday’s gains. Easing fears over the Omicron COVID-19 variant were said to be leading to an increased appetite for risk in the financial markets.
At 8:43 a.m. CST Tuesday morning the Canadian dollar was at US$0.7890 or US$1=C$1.2674 which compares with Monday’s close of US$0.7825 or US$1=C$1.2780.
The Bank of Canada will announce its latest monetary policy decision on Wednesday, and investors will be following the statement carefully for hints on the timing of future rate increases.
Crude oil was stronger, which contributed to the advances in the energy-linked currency. West Texas Intermediate was up 2.9 per cent at US$71.49 per barrel.
The TSX was stronger, up 276.47 points at 8:43 CST, trading at 20,137.57 points.
