March 18, 2015 / 6:24 PM / 3 years ago

CANADA FX-C$ strengthens sharply from six-year lows after Fed news

TORONTO, March 18 (Reuters) - The Canadian dollar strengthened sharply from six-year lows against the U.S. dollar on Wednesday, after the Federal Reserve signaled a more cautious outlook for U.S. economic growth and slashed its projected interest rate path.

The Canadian dollar, which had already begun strengthening notably ahead of the Fed’s announcement, touched C$1.2682 against the greenback, or 78.85 U.S. cents, after the statement. This was firmer than Tuesday’s finish of C$1.2785, or 78.22 and significantly stronger than the C$1.2824, or 77.98 U.S. cents, it hit earlier in the session, its weakest level since March 2009. (Reporting by Solarina Ho; Editing by Peter Galloway)

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