The loonie climbed to notable highs versus the euro and greenback on Monday in New York. Traders mulled higher U.S. oil prices.
Crude oil prices surged towards $50 per barrel amid ongoing violence in the Middle East. Light sweet crude for February delivery rose to $49.19, up $2.85 for the session. Prices hit as high as $49.22, oil's highest intraday mark since Dec. 16.
The Canadian dollar reached a 2 1/2-week high against the U.S. dollar on Monday. The loonie rallied to 1.1865 by 11:00 am ET, up from 1.2224 in the early morning. Investors weighed a report showing U.S. construction spending fell less than expected in November.
The loonie hit a monthly high versus the euro on Monday. The Canadian dollar rose to 1.6132 just after 12:00 pm ET, up from an early morning low of 1.6879. Traders pondered a survey showing Euro zone investor confidence improved in January.
For comments and feedback: editorial@rttnews.com