Canadian Dollar Weakens Amid Hawkish Remarks and Tariff Uncertainty

The Canadian dollar weakened against its US counterpart on Friday, touching a nine-day low of C$1.3908 per US dollar.

This decline comes despite strong GDP growth in Canada, which reached an annualized rate of 3.3% in the second quarter.

Economists believe that this data will have little impact on the Bank of Canada's upcoming monetary policy decision.

The US Federal Reserve Chair Kevin Warsh recently made hawkish remarks at a symposium, stating that more work is needed to achieve the 2% inflation target.