Forex
Canadian Dollar Surges as Bank of Canada Holds Interest Rates
The Canadian dollar closed higher on Wednesday, gaining almost two-tenths of a cent after the Bank of Canada announced its latest interest rate freeze.
The Loonie finished at US$0.7213 or US$1=C$1.3863 compared to Tuesday's close of US$0.7196 or US$1=C$1.3896.
On the United States Dollar Index, the greenback dipped 0.127 of a point at 99.510.
The Bank of Canada stated that its overnight rate will remain at 2.25 per cent, for the seventh consecutive announcement.