Commodities
Loonie Plunges Amid US Dollar Strength and Crude Oil Price Surge
The Canadian dollar has continued its downward trend against its US counterpart on Thursday.
The loonie was at $0.7074, or $1=C$1.4136 as of 8:48 a.m. CDT, compared to $0.7094 or $1=C$1.4096 on Wednesday.
The U.S. Dollar Index rose by 0.21 of a point to 101.30, nearing its highest level in nearly two months.
Crude oil prices increased after talks between the US and Iran stalled, heightening uncertainty in the conflict between the two nations.
Brent crude oil surged $2.29 at $105.37 per barrel, while West Texas Intermediate gained $2.06 at $94.22/barrel.