Canadian Dollar Surges Amid Higher Oil Prices

The Canadian dollar has reached its highest level in nearly three weeks against the US dollar. This comes as investors focus on higher oil prices, rather than the escalating trade war between the United States and Canada.

The Canadian dollar strengthened by 0.2% to C$1.3790 per US dollar, equivalent to 72.52 US cents, after touching C$1.3760 during the session. This is its strongest level since August 21.

Adam Button, chief currency analyst at InvestingLive, said that markets are 'shrugging off tariffs and threats'. Despite concerns about the trade war, the economic fallout remains limited, and the Canadian dollar is moving in line with oil prices.