Loonie at 74.52 U.S. cents
edged lower against its U.S. counterpart on Wednesday but was holding on to half of its previous day’s gain as investors awaited the release of minutes for the first time from a Bank of Canada policy meeting.
On Tuesday, its governor, Tiff Macklem, said no further interest rate rises would be needed if, as expected, the economy stalled and inflation came down. It advanced 0.4 per cent on Tuesday as Federal Reserve Chair Jerome Powell’s balanced tone on inflation cheered equity markets and weighed on the U.S. dollar.
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