Glacier FarmMedia – The Canadian dollar had its highest close since Oct. 30 on Tuesday, due to gains in crude oil and the approval of the federal budget in the House of Commons on Monday.
The loonie jumped to US$0.7144 or US$1=C$1.3997 on Tuesday, compared to US$0.7125 or US$1=C$1.4035 on Monday.
The United States Dollar Index was down 0.03 of a point at 99.56.
Crude oil prices rose on Tuesday as upcoming U.S. and European Union sanctions on Russian oil companies are causing supply concerns. West Texas Intermediate gained US$0.81 per barrel at US$60.72. Brent crude oil advanced US$0.66/barrel at US$64.86.
The TSX/S&P Composite Index added onto Monday’s losses by dipping 39.75 points to close at 30,036.46.
Gold declined US$3.70 per ounce at US$4,070.80.
