Forex
Loonie Drops Amid Trade Dispute with US
The Canadian dollar took a hit over the weekend after trade talks between Canada and the United States fell apart on Friday.
According to the latest exchange rates, the loonie was trading at US$0.7232 or C$1=US$1.3827 as of 8:43 a.m. CDT, down from its close of US$0.7267 or C$1=US$1.3760 on Friday.
The U.S. Dollar Index added 0.12 of a point at 98.92, while the TSX/S&P Composite Index lost 17.05 points at 36,602.78.
Canada had walked away from the negotiating table after the U.S. made last-minute changes to its demands, and some Canadian goods will face a 50% tariff starting September 8, with Canada retaliating with matching tariffs on U.S. goods.