Loonie falls after oil turns lower

The Canadian dollar fell against most of its major peers on Monday, as oil turned lower once again, which impacts the Canadian currency as oil is one of Canada's main exports.

Investors are focusing on the latest updates regarding the US political situation after thousands of Trump supporters last week stormed the US Capitol building.

Leaders from the Democratic Party, especially House Speaker Nancy Pelosi called on Vice President Mike Pence to impeach Trump.

As of 17:13 GMT, WTI crude February futures fell 0.4% to $52.03 a barrel, after hitting a day high of $52.1 and a low of $51.5.

Brent March futures fell 0.9% to $55.4 a barrel, after hitting a high of $56.3 and a low of $54.9.

As of 17:23 GMT, CAD/USD fell 0.6% to 0.7833, with a high of 0.7884 and a low of 0.7790.