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Canadian dollar weakens as BoC signals likely tariff response - REUTERS

FEBRUARY 22, 2025

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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%.

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