Canadian dollar keeps most of its recent gains as oil prices rise

The Canadian dollar weakened against its U.S. counterpart on Thursday as the greenback broadly climbed, but the loonie held on to most of its recent gains as stocks and oil prices turned higher.

The price of oil, one of Canada’s major exports, rose to a nearly four-week high despite fading optimism of a trade deal between the United States and China. U.S. crude oil futures settled 0.4 percent higher at $52.59 a barrel.

Oil has rebounded about 24 percent since slumping in December to an 18-month low…

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