TORONTO, March 19 The Canadian dollar extended
its weakness against the greenback on Wednesday after the
Federal Reserve revamped its guidance on when the U.S. central
bank will eventually raise interest rates.
In a statement following a two-day policy meeting, the Fed
dropped the U.S. unemployment rate as its definitive barometer
of the economy's strength but made clear it would rely on a wide
range of measures in deciding when to raise rates.
The loonie broke through the key C$1.12 level immediately
following the statement to trade at a fresh session low of
C$1.1238. The Canadian dollar was most recently at
C$1.1223 to the greenback, or 89.10 U.S. cents, weaker than
Tuesday's close of C$1.1137, or 89.79 U.S. cents.
(Reporting by Leah Schnurr; Editing by James Dalgleish)