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US Dollar Weakens Against The Loonie as Oil, Gold Prices Climb

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The US dollar weakened against its Canadian counterpart Monday afternoon, as oil and gold prices rose.

Tensions in the Strait of Hormuz looked set to continue, after Iran rejected any discussions to extend the Memorandum of Understanding with the United States, which expires today. President Trump also warned Oman he would bomb the country if it got in the way with Iran negotiations.

The US dollar edged down 0.3% to C$1.3871 on last look.

West Texas Intermediate September futures rose 2.3% to $84.28 per barrel, while Brent crude futures for October delivery rose 2.4% to $90.68 per barrel.

Comex gold for December delivery edged up 0.8% to $4,472.90 per ounce.

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