Market News
Canadian dollar weakens ahead of expected interest rate cut - REUTERS
By Fergal Smith
Summary
- Canadian dollar falls 0.3% against the greenback
- Touches five-day low at 1.4440
- Price of US oil decreases 1.1%
- Bond yields ease across the curve
TORONTO, March 10 - The Canadian dollar weakened against its U.S. counterpart on Monday as investors bet that the Bank of Canada would continue its easing campaign this week to support an economy threatened by U.S. trade tariffs.
The loonie was trading 0.3% lower at 1.4425 to the U.S. dollar, or 69.32 U.S. cents, after touching its weakest intraday level since last Wednesday at 1.4440.
Members of the ruling Liberal party in Canada have bet on former central banker Mark Carney as the man best placed to take on U.S. President Donald Trump, who has threatened annexation as well as launching a trade war and punishing tariffs on Canada.
