⁍ Canadian dollar rises 0.4% against the greenback.

---

⁍ Loonie trades in a range of 1.3354 to 1.3413.

---

⁍ Price of U.S. oil increases 0.8%.

---

⁍ Canada’s 10-year yield hits its lowest since June 15 at0.482

– The Canadian dollar strengthened against its US counterpart on Monday, with the loonie approaching a six-week high, as oil prices rose and the greenback again declined against a basket of currencies, Reuters reports. The US dollar fell to its lowest level since June 2018, weighed by deteriorating US-China relations and concerns about the US economy as COVID-19 infections climbed. “We have seen US dollar weakness pretty much across theboard,” said Rahim Madhavji, president at KnightsbridgeFX.com. “At the end of the day weakness in the US dollar is typically a risk-on event for the market.” The Canadian dollar was trading 0.4% higher at 1.3366 to the greenback, or 74.82 US cents. Last Thursday, the loonie touched its strongest intraday level since June 10, at 1.3347. Data on Friday showed that speculators have reduced theirbearish bets on the loonie to the lowest point since mid-March. Canadian government bond yields edged higher across much of the curve on Monday along with higher yields on US Treasuries. The 10-year yield was up 0.7 basis point at 0.514, having earlier touched its lowest intraday level since June 15 at 0.482%. The Federal Reserve at the close of its two-day policy meeting on Wednesday could confirm recent hints about an average inflation target, which would allow rates to stay lower for longer. Canada’s GDP report for May is due on Friday.