Canadian Dollar Advances on Fed Statement, Higher Oil Prices;
TORONTO--The Canadian dollar is ending higher Wednesday, reflecting both a general retreat in the U.S. dollar after the Federal Reserve expressed concern about the impact of low inflation on the economy, and gains made in prices for energy commodities.</br></br>The Fed's remarks were seen by some market participants as indicating the Fed might not proceed as quickly as previously expected in reducing its stimulative bond-buying programs.</br></br>The U.S. dollar is at C$1.0272 late Wednesday, from C$1.0304 late Tuesday, according to data provider CQG.</br></br>The U.S. currency dipped to a low of C$1.0246 after the statement before retracing some of its losses.</br></br>The Fed's statement said it expects weak inflation to eventually rise back toward targets, but also says it "recognizes that inflation persistently below its 2% objective could pose risks to economic performance."