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Canadian dollar and business outlook

By MarketsFarm

WINNIPEG, Nov. 24 (MarketsFarm) – The Canadian dollar was holding steady Tuesday morning, backing away from overnight gains as currency traders squared positions and reacted to larger swings in the United States Dollar Index.
At 8:40 CST Tuesday morning the Canadian dollar was at US$0.7645 or C$1.3080 which compares with Monday’s North American close of US$0.7644 or C$1.3082.
Optimism that a COVID-19 vaccine will soon become available, as a number of candidates move through the approval process, remained a supportive influence on the equity markets.
Crude oil was stronger in early trade, with West Texas Intermediate up 1.9 per cent, at US$43.88 per barrel.
The TSX was up by 101.92 points at 8:40 CST to trade at 17,196.45 points.

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