Loonie Reverses Course After Bank of Canada Maintains Overnight Rate
The Canadian dollar has reversed its downward trend after the Bank of Canada announced that it will keep the overnight rate at 2.25 per cent.
This decision led to a climb in the value of the Loonie, with the currency reaching US$0.7209 or US$1=C$1.3872 as of 8:55 am CDT on Wednesday morning.
The United States Dollar Index also dipped slightly, falling 0.132 of a point to 99.510.