Loonie Touches Three-Week High as Oil Prices Trump Trade Angst

The Canadian dollar strengthened to nearly a three-week high against its U.S. counterpart on Tuesday, despite an escalating trade war between the two countries.

Data showed that Canada's economy lost 41,700 jobs in August, but the unemployment rate remained steady at 6.4%.

Investors are reportedly tuning out tariffs and threats, with Adam Button, chief currency analyst at investingLive, saying 'Markets are increasingly tuning out tariffs and threats.'

The Canadian dollar was trading 0.2% higher at 1.3790 per U.S. dollar, or 72.52 U.S. cents, after touching its strongest intraday level since August 21 at 1.3760.