By Glen Hallick, Reporter
The Canadian dollar added nearly a tenth of a cent on Wednesday, following the interest rate announcement from the Bank of Canada.
The BoC said its overnight rate will stay at 2.25 per cent, suggesting the Canadian economy could improve. However, the central bank noted it was unsure if its future announcements this year will be decreases or increases.
The loonie finished at US$0.7118 or US$1=C$1.4049 compared to Tuesday’s close of US$0.7109 or US$1=C$1.4067.
On the U.S. Dollar Index, the greenback lost 0.391 of a point at 100.320.
Benchmark crude oil prices turned around on Wednesday afternoon to push higher as supplies are widely expected to become tighter as the renewed Middle East war drags on.
West Texas Intermediate increased US$1.05 at US$80.39 per barrel, and Brent crude climbed US$1.18 at US$85.91.
The TSX Composite Index was up 95.66 points on Wednesday to close at 35,416.20.
Gold was down US$4.00 at US$4,065.70 per ounce.
