Forex
Loonie Surges Amid Trump's Iran Threat
The Canadian dollar has reached its highest level since June 2 after a two-cent rise on Thursday. It closed at US$0.7254, or US$1 = C$1.3785, compared to the previous day's close of US$0.7234 or US$1 = C$1.3824.
The greenback also gained ground, adding 0.074 points on the U.S. Dollar Index to reach 98.805. The move was likely driven by the threat made by U.S. President Donald Trump to wage an economic war on Iran.
Benchmark crude oil prices surged in response, with West Texas Intermediate jumping US$2.32 at US$88.15 per barrel and Brent crude advancing US$1.82 at US$93.44.