Canadian Dollar Falls as Liberals Win Surprise Majority in Vote
- Government bonds gain, currency falls against most major peers
- Liberals ran on plan to use deficits to stimulate economy
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The Canadian dollar headed for its biggest three-day slide as Justin Trudeau’s Liberal Party won a majority government in Monday’s national election on plans for additional deficit spending.
The currency weakened versus 15 of 16 major peers after the Liberals swept to power in the biggest political rebound in Canadian history. Most polls had predicted Trudeau would only win enough seats to be able to rule as part of a minority government.