Forex
Loonie Sinks as US Dollar Index Hits Two-Month High
The Canadian dollar continued to decline against its US counterpart on Thursday, settling at $0.7074 or $1=C$1.4136 as of 8:48 a.m. CDT.
This marks a slight decrease from Wednesday's exchange rate of $0.7094 or $1=C$1.4096.
The increase in the US Dollar Index to its highest level in nearly two months, at 101.30, has contributed to the loonie's decline.
Crude oil prices saw a notable gain due to stalled talks between the US and Iran, with Brent crude jumping $2.29 at $105.37 per barrel and West Texas Intermediate gaining $2.06 at $94.22/barrel.