By MarketsFarm
WINNIPEG, June 28 (MarketsFarm) – The Canadian dollar was weaker Wednesday morning, seeing a continuation of Tuesday’s losses relative to its United States counterpart.
At 8:59 a.m. CDT Wednesday morning the Canadian dollar was at US$0.7544 or US$1=C$1.3256, which compares with Tuesday’s close of US$0.7590 or US$1=C$1.3175.
Canada’s annual rate of inflation fell to 3.4 per cent in May, from 4.4 per cent the previous month, according to a report released by Statistics Canada on Tuesday. The softer inflation could see the Bank of Canada hold interest rates steady in July, instead of increasing them.
Crude oil was softer, with West Texas Intermediate down by 0.56 per cent at US$67.31 per barrel.
The TSX was stronger, gaining 42.22 points at 8:59 CDT, trading at 19,775.31 points.
