Loading…
The Canadian dollar fell to its lowest level since May 2020 after Donald Trump threatened tariffs on Canadian goods shipped to the US once he takes office in January. It traded at 71.01 US cents in early afternoon trading after dipping below 71 cents earlier.
Analysts said the loonie was already under pressure from a softer domestic economy and Bank of Canada rate cuts.
The combined effect of tariff risk and a weaker currency makes Canadian exports cheaper in US dollars but raises the cost of imported feed and inputs. The tariff threat adds downside risk to Canadian trade volumes into the US.
cbc.caCraig WongNov 26, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
