Glacier FarmMedia — The Canadian dollar was weaker Monday morning, as losses in crude oil weighed on the energy-linked currency.
- At 8:58 a.m. CST the Canadian dollar was trading at US$0.7314 or US$1=C$1.3672 which compares with Friday’s close of US$0.7374 or US$1=C$1.3562.
- Investors were taking some of the risk premium out of oil as tensions between the United States and Iran eased over the weekend.
- West Texas Intermediate was down 4.19 per cent at US$62.48 per barrel.
- Gold and other commodities were also weaker, seeing a continuation of Friday’s selloff as traders continued to adjust positions amid ideas the recent climb to record-highs in gold was overdone.
- The TSX was up 98.87 points at 8:58 CST to trade at 32,022.39.
