US Dollar Nudges Lower Against The Loonie as Bond Yields Decline Slightly
MT newswire2026/10/08 17:5101:51 PM EDT, 10/08/2026 (MT Newswires) -- The US dollar weakened against its Canadian counterpart on Thursday afternoon as bond yields declined. The greenback was last seen down 0.2% at CA$1.4221. US Treasury yields, though slightly lower, were still at more than 24-year highs: 10-year yields fell 4.4 basis points to 5.233%, while 30-year bonds edged down 4.9 basis points to 5.61%. Comex gold futures for December, which fell to a two-month low on Wednesday, advanced 0.7% to $4,169 per ounce, as the dollar and bond yields declined. Oil prices jumped as fighting in the Middle East escalated as the Iran-backed Houthis continued with missile attacks against airports in Saudi Arabia. In a Truth Social post this afternoon, US President Donald Trump said, "We are having productive discussions with the Islamic Republic of Iran," adding there would be no attacks against that country before the US midterm elections next month. West Texas Intermediate November futures benchmark jumped 3.2% to $91.04 per barrel. December Brent crude futures advanced 3.4% to $103.61 per barrel.
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