By MarketsFarm
WINNIPEG, Dec. 8 (MarketsFarm) – The Canadian dollar was stronger Wednesday morning, trading near three-week highs as currency traders await the Bank of Canada’s latest monetary policy announcement.
At 8:40 a.m. CST Wednesday morning the Canadian dollar was at US$0.7927 or US$1=C$1.2615 which compares with Tuesday’s close of US$0.7899 or US$1=C$1.2660.
The Bank of Canada is set to make an announcement at 9:00 a.m. CST. While the Bank is generally expected to be holding rates steady this month, investors will be following the statement carefully for hints on the timing of future rate increases which may be coming early in the New Year.
Crude oil was slightly lower in early trade. West Texas Intermediate was down 0.4 per cent at US$71.75 per barrel.
The TSX was weaker, down 88.46 points at 8:40 CST, trading at 21,074.19 points.
