US Dollar Edges Up Against The Loonie as Bond Yields And Oil Prices Fall

01:53 PM EST, 11/02/2026 (MT Newswires) -- The US dollar nudged higher against the Canadian currency on Monday afternoon as 10-year Treasury yields fell and oil prices tumbled. The greenback was last seen up 0.05% to CA$1.3980. US 10-year US Treasury yields fell 4.1 basis points to 4.888% on last look, while 30-year bonds dropped 5.3 basis points to 5.256%. Oil prices tumbled on Monday. Associated Press reported that an Iranian delegation left Qatar on Sunday and that a draft proposal had been circulated for feedback, with talks of a possible follow-up meeting. CNBC also said this morning that US President Donald Trump still preferred a diplomatic solution to the Iran conflict, but had not yet made a decision. Trump previously said Iran would not be attacked before the US midterm election, which takes place on Tuesday. West Texas Intermediate December crude oil futures, the US benchmark, slumped 8% to $96.14 per barrel. January Brent oil futures, the international benchmark, dropped 8% to $104.33 a barrel. Comex gold December futures rose 1.8% to $3,970.40 per ounce as oil prices fell, lowering inflation concerns.