The Canadian dollar rose against its U.S. counterpart on Monday, and the yield on benchmark government bonds also climbed.

The Canadian dollar, known as the "loonie," traded up 0.5% at 1.3603 CAD per U.S. dollar, equivalent to 73.51 U.S. cents, after moving during the session within a range between 1.3598 and 1.3682.

Canadian 10-year government bond yields rose by 3 basis points to reach 3.493%. In comparison, the yield on the similar benchmark U.S. government bond climbed to 4.3236%.

In energy markets, U.S. West Texas Intermediate crude futures for June delivery rose by 1.94 dollars to reach 96.34 dollars per barrel on Monday.