By Glen Hallick
Glacier Farm Media | MarketsFarm – The Canadian dollar stepped back on Wednesday, as the United States dollar improved and despite hikes in crude oil.
The loonie closed at US$0.7256 or US$1=C$1.3782 compared to Tuesday’s close of US$0.7274 or US$1=C$1.3748. On the U.S. Dollar Index, the greenback was up 0.231 of a point at 98.025.
Benchmark crude oil prices climbed higher on Wednesday, as the Trump administration’s blockage of sanctioned oil tankers going to and from Venezuela negated concerns about the ample global crude supply.
West Texas Intermediate gained US$1.62 at US$56.89 and Brent crude increased US$1.68 at US$60.60 per barrel.
The TSX Composite Index shed 13.91 points on Wednesday at 31,250.02.
Gold advanced US$44.30 at US$4,376.50 per ounce.
