Market News
Canadian dollar rebounds from 22-year low on tariff pause hopes - REUTERS
By Fergal Smith
Summary
- Canadian dollar falls 0.5% against the greenback
- Touches weakest since April 2003 at 1.4793
- Tariffs on Canada poised to take effect Tuesday
- 10-year yield hits lowest since Sept. 18
TORONTO, Feb 3 (Reuters) - The Canadian dollar clawed back much of its decline against its U.S. counterpart on Monday as investors weighed the possibility of Canada achieving a reprieve from U.S. tariffs, with the currency rebounding from an earlier 22-year low.
The loonie was trading 0.5% lower at 1.4590 to the U.S. dollar, or 68.54 U.S. cents, after earlier tumbling to its weakest level since April 2003 at 1.4793.
U.S. President Donald Trump has paused new tariffs on Mexico for one month after Mexico agreed to reinforce its northern border with 10,000 National Guard members to stem the flow of illegal drugs, he said.
