Canadian Dollar Hits Nine-Day Low on Tariffs and Fed
The Canadian dollar declined to a nine-day low against the US dollar as investors dismissed strong domestic GDP growth. Markets focused instead on new US tariffs and hawkish comments from Federal Reserve Chair Kevin Warsh.
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The Canadian dollar fell 0.3% to a nine-day low of 1.39 per USD/CAD on Friday afternoon, pressured by hawkish comments from the Federal Reserve and new trade tariffs. The currency is headed for a 1% weekly decline, breaking four consecutive weeks of gains. The drop reflects growing investor caution despite an unexpected acceleration in domestic economic growth.
