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Commodities

Loonie Gains Ground as Treasury Bond Selloff Weakens USD

Guavy AI Editorial Team
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Oil
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The Canadian dollar showed strength on Thursday as its US counterpart declined due to a selloff in treasury bonds.

The loonie finished at US$0.7252, representing a gain from Wednesday's close of US$0.7213 or C$1=C$1.3863.

The United States Dollar Index retreated 0.592 of a point to 98.960.

Benchmark crude oil prices rose initially but softened due to hopes of a Russia-Ukraine peace deal, while support came from heightened tensions in the Middle East.

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