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Forex

Canadian Dollar Trades Lower Amid Crude Oil Losses

Guavy AI Editorial Team
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The Canadian dollar was trading slightly softer on Wednesday morning due to losses in crude oil prices.

At 9:23 a.m. CDT, the Canadian dollar stood at US$0.7175 or US$1=C$1.3937, compared with its close of US$0.7185 or US$1=C$1.3917 on Tuesday.

The European Commission's President, Ursula von der Leyen, proposed Canada as the first associate member of the European Union during a state of the union address in France attended by Canadian Prime Minister Mark Carney.

In related news, the United States Federal Reserve will announce its interest rate decision later in the day, with general expectations pointing towards a rate hike from the central bank.

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