Loonie Tumbles to Two-Year Low as Trump Win Changes US Dollar’s Trajectory
- Canadian dollar hits $1.3959 per USD, matching Oct. 2022 level
- Threat to growth may spur ‘aggressive’ BOC response, BMO says
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The Canadian dollar slumped to its lowest in two years against the US currency after Donald Trump surged to victory in the American presidential election.
The loonie traded as low as C$1.3959 per US dollar on Wednesday morning as the greenback strengthened in response to the Republican candidate’s decisive win. It also reached that level on Nov. 1, which marked its lowest intraday price since October 2022.