Loonie climbs for third consecutive day as U.S. dollar declines

The Canadian dollar rose on Wednesday for the third day in a row to a one-week high as the greenback fell to a seven-week low against a basket of currencies, underpinning the loonie.
 
USD/CAD last traded at 1.3113, down from the opening of 1.3156, with an intraday high at 1.3163, and a low at 1.3088.
 
Loonie's current gains come as commodities steady in the markets, with industrial commodities such as copper gaining ground this week, while crude prices steady as well, underpinning the loonie as a commodity currency.
 
on the other hand, the U.S. dollar fell today to a seven-week low against a basket of currencies, buoying the loonie.
 
The dollar index, tracking the greenback versus an array of six major peers, fell to 100.14 from the opening of 100.27, with a session-high at 100.41, and a low at 99.82, with the decline coming after U.S. president Trump asked today for an investigation into voter fraud.