Loonie climbs to three-month high

The Canadian dollar rose on Thursday to a three-month high as the U.S. dollar fell against main currencies, while crude prices gained ground.
 
USD/CAD last traded at 1.3119, up down from the opening of 1.3163, with an intraday high at 1.3171, and a three-month trough at 1.3029.
 
Loonie's advance comes after crude prices rose for the second straight session, drawing support from bullish comments from OPEC's general secretary expecting a drop in global inventories by the second quarter of this year.
 
Loonie rises when crude prices rise, which pushed Canada's currency to a three-week high, specially as demand rose on commodities in general.
 
On the other hand, the dollar slumped today to a five-week low against main currencies, following U.S. President-elect Donald Trump's disappointing speech yesterday, which underpinned the loonie.