Canadian Dollar Fades Against US Dollar Amid Rising Oil Prices

The Canadian dollar continued its decline on Thursday morning, falling against the US dollar. The Loonie was trading at $0.7021 or $1=C$1.4240 as of 8:41 am CDT, down from Tuesday's close of $0.7048 or $1=C$1.4188.

The rise in the US dollar index to 101.590 and the increase in crude oil prices may have contributed to the Canadian dollar's decline. West Texas Intermediate rose 31 cents to $90.73 per barrel, while Brent crude added $1.83 to $99.86.