Loonie lower as BoC keeps rate on hold; Toronto stocks lose ground

The Canadian Press</span>
Published Wednesday, October 25, 2017 1:28AM EDT
Last Updated Wednesday, October 25, 2017 11:49AM EDT

TORONTO -- The Canadian dollar was lower in late-morning trading after the Bank of Canada kept its key interest rate target on hold.

The loonie was trading at 78.21 cents US, down from an average price of 78.95 cents US on Tuesday.

The move in the currency came as the S&P/TSX composite index was down 33.36 points to 15,871.78, after 90 minutes of trading.

In New York, the Dow Jones industrial average was down 89.51 points to 23,352.25. The S&P 500 index was down 13.20 points to 2,555.93 and the Nasdaq composite index was down 28.59 points to 6,569.84.

The December crude contract was down 20 cents to US$52.27 per barrel and the December natural gas contract was down two cents to US$3.11 per mmBTU.

The December gold contract was down US$1.30 to US$1,277.00 an ounce and the December copper contract was down two cents to US$3.18 a pound.

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