Economics
Loonie Set for Steepest Weekly Drop in Year on Trade Tension
- Currency extends worst run among major currencies this year
- Scotiabank sees chances for loonie to gain against U.S. dollar
Trump Says 'Trade Wars Are Good, and Easy to Win'
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The Canadian dollar is heading for its worst week in a year amid worries that U.S. metal tariffs will further weaken economic growth that came in below expectations for the second half of last year.
The loonie fell 0.40 percent to C$1.2888 per U.S. dollar at 10:30 a.m. in Toronto, extending its year-to-date loss to 2.5 percent, the worst performance among major currencies tracked by Bloomberg. The currency has weakened in 10 of the last 11 sessions.