The Canadian dollar was slightly higher Thursday as the greenback continued to weaken on indications from the U.S. Federal Reserve that it is in no hurry to hike interest rates.
The loonie edged up 0.02 of a cent to 90.08 cents US.
The Canadian currency jumped just over half a U.S. cent Wednesday after minutes from the U.S. Federal Reserve’s latest meeting showed that central bank officials agreed that they would begin raising interest rates only when measures of the economy’s health and inflation signalled the time was right.
They showed that the Fed has moved away from linking any rate change to any specific period.
The Fed also expressed concern about the slowing of the global economy and how a stronger U.S. dollar could impact American economic growth.
Worries about Europe grew Thursday amid another dose of glum economic data from the continent’s biggest economy.
via Kitco
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