TORONTO – The Canadian dollar was up more than three-quarters of a U.S. cent this morning, making up for Tuesday’s loss when currency markets responded to a sudden devaluation of China’s yuan.
The loonie traded at 77.11 cents US, up 0.80 of a U.S. cent from the previous close after a decline of 0.61 on Tuesday.
It’s the first time this month that the dollar has been above 77 cents US. It dropped to 75.75 cents US on Aug. 4.
The S&P/TSX composite index was down 191.22 points at 14,223.45, adding to the previous day’s 51.7-point decline.
The Dow Jones industrial average was down 211.78 points at 17,191.06, the Nasdaq index fell 75.24 points to 4,961.55, and the S&P 500 fell 25.03 points to 2,059.04.
On the commodity markets, the December gold contract rose $15.10 to US$1,122.80 an ounce, the September crude contract was up 53 cents at US$43.61 a barrel and the September contract for natural gas was up five cents at US$2.89.