Crude's decline stems loonie's advance

The Canadian dollar pared its gains versus the U.S. dollar after crude prices fell, hurting the loonie as they go hand in hand usually, while the greenback kept falling against a basket of currencies on profit-taking.
 
USD/CAD last traded at 1.3061, down from the opening of 1.3070, with a session-high at 1.3073, and a low at 1.3009.
 
Canada's currency rose to one-week high today as the greenback tumbled on profit-taking after hitting a five-week high yesterday against a basket of currencies, buoying the loonie.
 
However, crude's decline today as U.S. crude stocks increase hurt the loonie, while the greenback hovers near the opening levels.
 
The dollar index, measuring the greenback versus a basket of peers, fell to 100.54 from the opening of 101.05, with a session-high at 101.06, and a low at 100.51.