The loonie is beginning to pare losses against the U.S. dollar on Monday morning, following a recent drop to three-year lows. On Friday, despite the release of a blockbuster Canadian employment report, the loonie fell nearly four cents from its session open to its 0.8305 low on the day, a mark which also corresponded to a three-year low, dating back to Aug. 23, 2005. The Canadian dollar is now up 0.0131 to 0.8654 against the U.S. dollar. Foreign exchange markets continue to trade the two currencies on Columbus Day in the U.S. and Thanksgiving in Canada. Contributing to the Canadian dollar rally is an increase in oil prices and commodities in general. West Texas Intermediate crude oil is up $3.19 per barrel to $80.89. Phil Flynn from Alaron Energies wrote in his daily Energy Report to clients that oil's rise may be tied to...
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