By Commodity News Service Canada
Winnipeg, June 4 – The Canadian dollar was lower against its US counterpart at midday Wednesday, as the Bank of Canada kept the key interest rate unchanged at one percent.
The rate has been at that mark since September of 2010, and the central bank indicated it has no plans to adjust it.
Worries over deflation also surfaced on information showing that inflation in the eurozone came in at 0.5 percent in May.
July copper dropped four cents to US$3.10 a pound, which was bearish while August bullion faded $0.50 to US$1,244 an ounce.
The July crude oil contract rose 61 cents to US$103.27 a barrel which was supportive.
At 11:45 CDT Wednesday, the Canadian dollar was trading at US$0.9141 or US$1.0939, which compares with Tuesday’s North American close of US$0.9166, or US$=$1.0910.
At 11:45 CDT Wednesday, the Toronto Stock Exchange was up 36.15 points to sit at 14,770.84.
