Crude Oil Above $80 Forces Canadian Dollar Up

Canada is one of the main suppliers of oil to the United States, and as the barrel passed the $80 dollars mark, the Canadian currency found support to extend previous gains as investors return to purchase assets in Canada, favoring the loonie in currency markets.
Despite the Bank of Canada position against a strong loonie, the Canadian currency is rallying once again as the crude oil, one of the nation’s main export is extending its rally after it touched the psychological mark of $80 per barrel, raising attractiveness for the Canadian dollar which rose versus most of 16 main traded currencies today.
USD/CAD traded at 1.0515 as of 16:51 from a previous rate of 1.0555 in the intraday...link