Loonie advances versus U.S. Dollar as RBA lowers interest rate

Canadian Dollar rose against the U.S. currency for the third straight day on Wednesday after the Reserve Bank of Australia lowered the benchmark interest rate by 25 basis points to a historical low at 2.75% spurring a demand for higher-yielded assets. The so-called Loonie advanced 0.3% to C$1.0042 per U.S. Dollar at 5 p.m. and one Canadian Dollar buys 99.58 U.S. cents.