Loonie falls as geopolitical tensions worsen

Canadian dollar fell against most of the major currencies on Wednesday as geopolitical tensions escalated, despite the oil prices' rebound, which is counted as a major source of government budget revenues.

Two oil tankers had been attacked in the Sea of ​​Oman yesterday which led to their explosion, and the United States accused Iran of being behind the attack.

Washington warned the Iranian government against continuing hostilities in the Middle East, noting that the Security Council will discuss the dimensions of this attack.

In the crude market, by 15:21 GMT, West Texas rose by 0.9% to $52.75 per barrel, with a high of $52.9 and a low of $51.7.

Brent climbed 1.4% to $62.1 a barrel, with a high of $62.2 and a low of $60.7.

In terms of trading, at 15:37 GMT, CAD/USD fell by 0.5% to 0.7468, and recorded a high of 0.751 and a low of 0.7465.