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Canadian dollar weakens as oil falls, rate cut risk lingers
The Canadian dollar weakened on Wednesday against its U.S. counterpart, pressured by lower oil prices and lingering risk that the Bank of Canada will cut interest rates further. The loonie has been weakening since the Bank of Canada acknowledged last week that it had considered cutting interest rates at its policy meeting. On Monday, it touched its weakest against the greenback in seven months at C$1.3398. "There is most definitely a potential for additional monetary easing in Canada," said Brad Schruder, director of corporate sales and structuring at BMO Capital Markets. The Canadian central bank's last rate cut ... (full story)