Forex
Loonie Plunges Amid Escalating US-Iran Tensions
The Canadian dollar posted its lowest close since July 13 as it declined against the US dollar on Thursday.
The loonie finished at US$0.7074 or US$1=C$1.4136, down from Wednesday's closing price of US$0.7094 or US$1=US$1.4096.
This move comes as the U.S. Dollar Index gained 0.17 of a point at 101.27.
In contrast, crude oil prices surged due to escalating tensions between the US and Iran.
West Texas Intermediate rose US$3.13 per barrel to US$95.29, while Brent crude oil jumped US$4.41/barrel to US$107.49.