WINNIPEG – The Canadian dollar stepped back a little on Wednesday morning.
The loonie was at US$0.7338 or US$1=C$1.3628, down from US$0.7343 or US$1=C$1.3618 on Tuesday.
The United States Dollar Index shed 0.43 of a point at 101.53. The U.S. Federal Reserve is likely to announce a 25-basis point hike to its key interest rates later today.
Crude oil fell to its lowest level since March earlier today due to recession fears. Brent crude oil gave up US$2.10 to US$73.22 per barrel. West Texas Intermediate (WTI) tumbled US$2.11 at US$69.55/barrel.
The TSX/S&P Composite Index was down 10.60 points to 20,396.96.
Gold added US$3.10 per ounce to US$2,026.40.
