Market News
Canadian dollar gains as tariff-threat shock fades - REUTERS
By Fergal Smith
- Canadian dollar gains 0.2% against the greenback
- Trades in a range of 1.4010 to 1.4077
- 10-year yield eases 6.5 basis points
TORONTO, Nov 27 (Reuters) - The Canadian dollar extended its recovery from a 4-1/2 year low against its U.S. counterpart on Wednesday as investors bet on Canada avoiding threatened U.S. trade tariffs through negotiation and looked ahead to domestic GDP data.
The loonie was trading 0.2% higher at 1.4025 per U.S. dollar, or 71.30 U.S. cents, after moving in a range of 1.4010 to 1.4077.
On Tuesday, the currency touched its weakest intraday level since April 2020 at 1.4177 after U.S. President-elect Donald Trump said he would impose a 25% tariff on imports from Canada and Mexico.
