Glacier FarmMedia — The Canadian dollar was stronger on Wednesday, hitting its highest levels in two weeks relative to its United States counterpart. Optimism over upcoming trade talks between the two countries contributed to the firmer tone in the currency.
The Canadian dollar settled at US$0.7145 or US$1=C$1.3996, which compares with Tuesday’s close of US$0.7132 or US$1=C$1.4022.
The continued shutdown of the U.S. government and resulting lack of economic data remained a feature in the financial markets.
Gains in crude oil lent support to the energy-linked Canadian dollar. West Texas Intermediate crude oil was up by 1.97 per cent at US$59.21 per barrel.
The TSX Composite Index gained 94.16 points at 29,982.98 points.
