Market News
Canadian dollar weakens as BoC signals likely tariff response - REUTERS
By Fergal Smith
Summary
- Canadian dollar weakens 0.4% against the greenback
- Loonie trades in a range of 1.4169 to 1.4235
- Price of U.S. oil settles 2.9% lower
- Canadian bond yields fall across the curve
TORONTO, Feb 21 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Friday as the greenback notched broad-based gains and the Bank of Canada provided a clearer signal it would cut interest rates to support the economy in the event of a trade war.
The loonie was trading 0.4% lower at 1.4230 to the U.S. dollar, or 70.27 U.S. cents, after trading in a range of 1.4169 to 1.4235. For the week, the currency was down 0.3%.