Loonie Edges Up as Oil Prices Spike on US-Iran Tensions

The Canadian dollar gained slightly on Monday morning as its US counterpart dipped and crude oil prices increased.

At 8:36 am CDT, the Canadian dollar was trading at US$0.7206 or US$1=C$1.3878, up from Friday's close of US$0.7200 or US$1=C$1.3888.

The US Dollar Index slipped 0.163 points to 99.495, while West Texas Intermediate crude oil prices jumped by US$2.10 at US$85.50 per barrel and Brent crude advanced US$2.25 at US$90.35.