Loonie Takes Another Hit Amid Ongoing US-Iran Tensions

The Canadian dollar has been experiencing a tough week and it's continuing into its final hours. As of Friday morning, the loonie was trading at US$0.7067 or US$1=C$1.4136, down slightly from yesterday's value.

The United States Dollar Index also took a hit, dropping 0.31 points to 100.97. This decline is likely due in part to the ongoing tensions between the U.S. and Iran.

Crude oil prices have been affected by these geopolitical tensions as well. Brent crude eased off by US$1.38 at US$105.22 per barrel, while West Texas Intermediate retreated US$1.43 at US$93.18/barrel.