Canadian Dollar Started Trading Higher than Previous Day's Close

The Canadian Dollar began Wednesday's trading session slightly higher than the value it had recorded when Tuesday's session came to a close. The currency started the session at 94.25 cents US, up 0.13 of a cent compared to the close of the previous day.

On Wednesday, the US Dollar valued in at 106.10 Canadian cents, down 0.15 of a cent.

The Dollar, on Wednesday, actually managed to rise against most major currencies, mainly on the back of sings that China is further tightening its lending and monetary policies with the aim to take some heat of its highly charged economy.

"The whole picture is very unclear at the moment. Increasingly investors don't know what to expect. And when the policy isn't clear, you get a lot of investors trying to cash in", said Linus Yip, a strategist at First Shanghai Securities in Hong Kong.

While the Euro was valued at C$1.4942 on Wednesday, the Pound Sterling weighed in at C$1.7226.