Loonie touches one-week low as crude slides

The Canadian dollar lost ground today, hitting a one-week low as crude prices fell, while the U.S. dollar advanced versus a basket of major rivals, heaping more pressure on the loonie. 

USD/CAD last traded at 1.2980, compared to the opening of 1.2980, with a session-low at 1.2965, and a one-week high at 1.3056. 

Loonie's current slide comes as crude prices give up ground, while the greenback heads higher versus a basket of major currencies, heaping pressure on Canada's currency. 

Investors are shunning risks today which forced oil prices down, in turn dragging loonie south alongside them. 

The dollar index, measuring the greenback's performance against a basket of six major rivals, last traded at 96.16, compared to the opening of 96.24, with an intraday low at 96.11, and a one-week high at 96.48, after the index hit a one-week trough yesterday at 95.30.