By Glen Hallick
Glacier FarmMedia – The Canadian dollar was lower on Monday morning, as the United States dollar continued to gain strength and despite stronger crude oil prices.
As of 8:50 am CDT, the Canadian dollar was at US$0.7179 or US$1=C$1.3929 compared to Friday’s close of US$0.7207 or US$1=C$1.3875. On the U.S. Dollar Index, the greenback was up 0.258 of a point at 100.240.
Benchmark crude oil prices jumped on Monday morning, following U.S. President Trump’s threat to destroy Iranian energy and power infrastructure.
West Texas Intermediate climbed US$2.04 at US$101.68 per barrel and Brent crude advanced US$2.41 at US$114.98.
In Monday morning activity, the TSX/S&P Composite Index increased 212.08 points at 32,172.73.
Gold was up US$63.00 at US$4,587.30 per ounce.
