By MarketsFarm
WINNIPEG, March 23 (MarketsFarm) – The Canadian dollar was weaker Tuesday morning, as losses in crude oil weighed on the energy-linked currency.
At 8:40 a.m. CDT Tuesday morning, the Canadian dollar was at US$0.7953 or US$1=C$1.2574 which compares with Monday’s North American close of US$0.7992 or US$1=C$1.2513.
New pandemic lockdowns in Europe and mounting concerns over the spread of COVID-19 variants accounted for much of the selling pressure in crude oil. West Texas Intermediate was down by 4.0 per cent at US$59.09 per barrel.
Bank of Canada Deputy Governor Toni Gravelle is set to give a speech later in the day that could provide some clues on future interest rate policy. Any surprises could sway the currency market.
The TSX was down by 41.97 points at 8:40 CDT to trade at 18,773.16 points.
