TORONTO: The Canadian dollar weakened to a session low on Wednesday after the US Federal Reserve announced plans to trim its economic stimulus program.
The central bank said it would reduce its monthly asset purchases by $10 billion to total $75 billion. It trimmed equally from mortgage and Treasury bonds.
The Canadian dollar was at C$1.0678 to the greenback, or 93.65 US cents, weaker than Tuesday's close of C$1.0610, or 94.25 US cents. The currency traded as low as C$1.0692.
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