Forex
Loonie Weakens Ahead of Looming US Tariffs
The Canadian dollar weakened against its US counterpart in recent trading sessions due to uncertainty over looming U.S. tariffs.
The Loonie settled at US$0.7200 or US$1=C$1.3889, a slight decrease from Monday's close of US$0.7212 or US$1=C$1.3865.
The imposition of 50% tariffs on nearly C$20 billion of Canadian goods starting Wednesday has created market uncertainty.
Prime Minister Mark Carney reportedly spoke with U.S. President Donald Trump on Monday, but no last-minute deal to avert the tariffs was announced.