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Loonie Hits Lowest Close Since July 13 Amid Crude Oil Price Surge

Guavy AI Editorial Team
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The Canadian dollar took another step back on Thursday, hitting its lowest close since July 13. The loonie finished at US$0.7074 or US$1=C$1.4136 compared to US$0.7094 or US$1=US$1.4096 the previous day.

The U.S. Dollar Index saw a gain of 0.17 points, reaching 101.27. This move was opposite to what happened with crude oil prices, which jumped after mediated discussions between the U.S. and Iran showed no progress towards ending their conflict.

West Texas Intermediate rose US$3.13 per barrel at US$95.29, while Brent crude oil surged US$4.41/barrel at US$107.49.

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