Loonie Falls Back as USD Index Rebound Continues

The Canadian dollar weakened on Friday morning after its US counterpart showed signs of recovery.

As of 8:38 am CDT, the Loonie was trading at US$0.7219 or US$1=C$1.3854, down from Thursday's close of US$0.7252 or US$1=C$1.3789.

The U.S. Dollar Index gained 0.215 of a point to reach 99.095, which contributed to the Loonie's decline.

Meanwhile, crude oil prices pulled back as there were no new developments in the Middle East conflict between the US and Iran. West Texas Intermediate lost US$1.03 at US$90.27 per barrel, while Brent crude was down 96 cents at US$94.56.