Canadian dollar gains as rising oil prices provide support

The Canadian dollar strengthened by 0.3% against the U.S. dollar on Tuesday, buoyed by a rise in oil prices.

The loonie traded within a range of 1.3637 to 1.3685 per U.S. dollar, as crude oil—one of Canada’s key export commodities—climbed 1.5%.

At the same time, yields on Canada’s 10-year government bonds rose to a four-week high of 3.465%.

Sources: Investing