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Industry: Email Alert RSS FeedCanadian Forex Midday: C$ Recovers As Crude Oil Rises.
Resource News International, June, 2009
Byline: Resource News International
WINNIPEG, MB, Jun 23, 2009 (Resource News International via COMTEX) -- The Canadian dollar was trading at a firmer level versus the US dollar at midday on Tuesday, having come off its earlier lows.
At 11:54 CDT, the Canadian dollar was trading at 86.94 US cents or US$1=C$1.1502, which compares with 86.69 US cents or C$1.1535 early in the day and Monday's North American close of 86.76 US cents or C$1.1526.
Early pressure on the Canadian dollar had been tied to the retreat seen in crude oil futures but a recovery in that market helped to pull the currency back above unchanged.
Risk aversion had also been an initial undermining factor for the Canadian dollar but by midday sentiment was improving...
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