By Glen Hallick
Glacier FarmMedia – The Canadian dollar gave up a little more than a tenth of a cent on Wednesday, due to a stronger United States dollar, but a significant upswing in crude oil tempered the losses.
The loonie finished at US$0.7311 or US$1=C$1.3678 compared to Tuesday’s close of US$0.7323 or US$1=C$1.3656.
On the U.S. Dollar Index, the greenback gained 0.565 of a point at 97.625.
Benchmark crude oil prices jumped on Wednesday, due to rising tensions between the U.S. and Iran, as well as the sudden end to peace talks between Ukraine and Russia.
West Texas Intermediate climbed US$2.97 at US$65.30 per barrel, while Brent crude advanced US$3.03 at US$70.45.
The TSX Composite Index improved 493.18 points on Wednesday to finish at a new record close of 33,398.73.
Gold was up US$98.00 at US$5,003.90 per ounce, reclaiming more than yesterday’s losses.
