Federal Reserve

Federal Reserve: The loonie was off the worst levels of the session but still down 0.27 of a cent to 92.56 cents US, its lowest close since late October 2009, after falling more than a cent Tuesday. It had gone as low as 92.35 cents US in morning trading, according to CTV. Meanwhile, minutes from the latest Federal Reserve meeting in December shed little light on how fast the central bank will accelerate the winding up of stimulus and TORONTO -- The Canadian dollar closed lower Wednesday, hitting fresh multi-year lows as the greenback strengthened in the wake of strong U.S. jobs data and speculation about what the Federal Reserve might do about cutting back on a key stimulus measure. Payroll firm ADP reported the U.S. private sector created 238,000 jobs in December. That data came two days before the release of the U.S. government's employment report for last month. Economists expect that report will show the economy created about 195,000 jobs in total. (www.immigrantscanada.com). As reported in the news.