By MarketsFarm
WINNIPEG, Oct. 30 (MarketsFarm) – The Canadian dollar was slightly weaker Wednesday morning, as investors await the Bank of Canada’s latest interest rate announcement.
At 8:45 CDT Wednesday morning the Canadian dollar was at US$0.7642 or C$1.3086 which compares with Tuesday’s North American close of US$0.7648 or C$1.3075.
The Bank is generally expected to be keeping its key overnight rate unchanged at 1.75 per cent in Wednesday’s policy statement. The accompanying statement will be read closely for signs of future moves.
The United States Federal Reserve is also set to make an interest rate announcement on Wednesday, with general expectations for a light cut to the U.S. rates.
With Canadian rates holding steady and the U.S. declining, the widening spread between the two countries should underpin the Canadian dollar.
The TSX was down by 19.11 points at 8:45 CDT to sit at 16,399.03.
