Loonie tumbles to four-week low despite U.S. dollar's weakness

The Canadian dollar fell today to a four-week low even as its southern rival weakens against a basket of major rivals, as crude prices tumble today, weighing on the loonie.
 
USD/CAD last traded at 1.3244, down from the opening of 1.3188, with an intraday high at 1.3254, and a low at 1.3164.
 
Loonie is heading for the third daily loss against the greenback today even as the dollar edges down against a basket of currencies ahead of U.S. president Trump's congress speech today.
 
Loonie's losses came after crude prices slumped today to a one-week low amid concerns about surging U.S. inventory buildup, heaping pressure on the currency.
 
The dollar index, tracking the greenback against an array of six major rivals, fell to 100.86 from the opening of 101.21, with an intraday high at 101.28, and a low at 100.78.