Loonie Boosts as Trump Pauses Tariffs

The Canadian dollar strengthened on Wednesday following the postponement of US tariff threats. The Loonie settled at US$0.7234, or US$1=C$1.3824, after US President Donald Trump announced a three-day delay in imposing 50% tariffs.

This development was seen as positive for the Canadian economy, with crude oil also gaining ground. West Texas Intermediate rose by 0.3%, reaching US$84.30 per barrel.

The TSX Composite Index followed suit, increasing by 33.86 points to 36,401.79 points.