WINNIPEG – The Canadian dollar fell below the 74 United States cent mark on Wednesday morning.
The loonie was at US$0.7382 or US$1=C$1.3546, down from US$0.7404 or US$1=C$1.3506 late Tuesday. The Bank of Canada (BoC) did not post its exchange rate on Tuesday.
The United States Dollar Index added 0.09 of a point at 103.56.
Crude oil jumped this morning after Saudi Arabian officials implied that the country could make further cuts to crude oil production. Brent crude oil gained US$1.45 to US$78.29 per barrel. West Texas Intermediate (WTI) rose US$1.48 at US$74.39/barrel.
The TSX/S&P Composite Index fell 197.08 points to 19,948.03.
Gold added US$1.70 per ounce to US$1,976.20.
