By Glen Hallick
Glacier FarmMedia | MarketsFarm – The Canadian dollar gave up about a tenth of a cent on Tuesday but held off the worst of the pressure from a stronger United States dollar and weaker crude oil.
The loonie closed at US$0.7252 or US$1=C$1.3789 compared to Monday’s close of US$0.7263 or US$1=C$1.3768.
On the U.S. Dollar Index, the greenback rose 0.348 of a point at 98.330.
Benchmark crude oil prices fell back on Tuesday, as concerns regarding over supply dominated the market. West Texas Intermediate dropped US$1.39 at US$56.93 per barrel, while Brent crude lost US$1.23 at US$60.53.
The TSX Composite Index climbed 187.07 points on Tuesday to 32,407.02, setting yet another record high close.
Gold advanced US$52.20 at US$4,503.70 per ounce.
