By MarketsFarm
WINNIPEG, Jan. 3 (MarketsFarm) The Canadian dollar was firm Friday morning, taking some direction from crude oil amid heightening global tensions.
At 9:01 CST Friday morning the Canadian dollar was at US$0.7702 or C$1.2984 which compares with Thursday’s North American close of US$0.7697 or C$1.2992.
A rally in crude oil markets lent some support to the energy-linked currency. Mounting tensions between the United States and Iran, after the U.S. killed a top Iranian general in an airstrike and Iran vowed retaliation, accounted for the sharp gains in oil.
West Texas Intermediate was US$2 per barrel higher in early activity, trading at just over US$63 per barrel.
There were no significant domestic economic releases.
The TSX was down by 31.56 points at 9:01 CST to sit at 17,068.39.
