By Commodity News Service Canada
WINNIPEG, May 27 The Canadian dollar was down slightly relative to the US dollar Wednesday morning, undermined by continued weakness in crude oil values, analysts said.
At 8:46 CDT Wednesday, the Canadian dollar was at US$0.8033 or US$=C$1.2449, which compares with Tuesday’s North American close of US$0.8046 or US$1=C$1.2427.
General strength in the US dollar index and a lack of appetite for riskier assets were also behind the softness.
Traders were also being cautious ahead of the Bank of Canada’s next interest rate announcement, which will take place at 9:00 a.m. CDT. The BoC is expected to keep interest rates unchanged at 0.75 per cent.
There was no significant Canadian economic data released on Wednesday.
The TSX was down 2.42 points, or 0.02%, at 8:46 CDT Wednesday morning to sit at 15,048.39.
