Canadian Dollar Falls Amid U.S.-Canada Trade Spat

Dow Jones
08/26

0947 GMT - The Canadian dollar falls to a one-week low against the U.S. dollar and a three-week low against the euro amid a trade spat between the U.S. and Canada. Trade talks collapsed and the U.S. imposed stiff new tariffs on Canadian goods last weekend, while Canada proposed retaliatory tariffs on U.S. goods. "The Canadian dollar weakened after Prime Minister Carney matched newly imposed U.S. tariffs with dollar-for-dollar retaliatory duties while rolling out emergency support for affected domestic industries," Tickmill Group's Patrick Munnelly says in a note. The U.S.-Canada trade dispute "remains a key tail risk" for the Canadian dollar. The U.S. dollar rose to a high of 1.3869 Canadian dollars, while the euro reached 1.6186 Canadian dollars, LSEG data show.

 

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