US Dollar Extends Weakness to One-Month Low Against The Loonie as 10-Year Yields Edge Down

02:03 PM EDT, 10/22/2026 (MT Newswires) -- The US dollar fell to a four-week low against its Canadian counterpart on Thursday afternoon, as 10-year Treasury yields continued to edge down, slipping below 5% for the first time in one month. The greenback was last seen down 0.03% at CA$1.4006, the lowest level since Sept. 21. The 10-year US Treasury yields edged down 1.8 basis points to 4.965% while 30-year bonds fell 1.4 basis points to 5.301%. Comex gold futures for December fell 2.2% to $4,059.40 per ounce, the lowest level since late-July, despite the lower dollar and bond yields. Oil prices rose amid signs of looming escalating conflict in the Middle East. The New York Times reported that the US and Israel were planning to resume strikes against Iran after the mid-term elections. Separately, the US is recalling some non-essential staff from its embassy in Saudi Arabia, according to a State Department post on X. The post cited escalating attacks from the Iran-backed Houthis as a reason. West Texas Intermediate December futures benchmark climbed 2.4% to $99.49 per barrel. December Brent crude futures jumped 3.5% to $112.60 per barrel.