Forex
Loonie Surges Amid US Tariff Row and Crude Oil Price Bump
The Canadian dollar strengthened on Tuesday as its US counterpart weakened and crude oil prices rose.
The loonie's value climbed by three-tenths of a cent, reaching US$0.7255 or US$1=C$1.3784 compared to Friday's close of US$0.7225 or US$1=C$1.3840.
This increase comes as the United States imposed tariffs on various Canadian imports in response to failed trade talks with the Trump administration.
Crude oil prices also rose, with West Texas Intermediate advancing by US$2.20 at US$93.68 per barrel and Brent crude gaining US$1.72 at US$98.72.