Loonie hits three-month high

The Canadian dollar rose on Tuesday to a three-month high as the U.S. dollar tumbled against main currencies, underpinning the loonie, while crude prices rose as well.
 
USD/CAD last traded at 1.3055, down from the opening of 1.3175, with an intraday high at 1.3189, and a three-month trough at 1.3019.
 
Loonie's gains come after a sharp decline in the greenback, which set a five-week low against a basket of currencies, buoying the loonie.
 
Additionally, crude prices rose today as the greenback fell, which underpinned the loonie due to Canada's reliance on oil receipts.
 
The dollar index, tracking the greenback against a basket of main rivals, skidded to 100.47 from the opening of 101.59, with an intraday high at 101.61, and a five-week nadir at 100.29, following the British PM's speech today.