Loonie Gains as Wall Street Weighs In on Trudeau’s Resignation
- The loonie advanced as much as 1.2% to C$1.4280 Monday
- The US dollar trading weaker aided the Canadian currency rise
This article is for subscribers only.
The Canadian dollar advanced after Canadian Prime Minister Justin Trudeau announced his resignation as head of the Liberal Party, triggering a contest to replace him as leader.
The so-called loonie rose as much as 1.2% to C$1.4280 Monday morning, aided by a weaker US currency. Those gains softened later in the session as Trudeau addressed the media during a speech in Ottawa.