Canadian dollar falls to lowest since July
The Canadian dollar weakened across the board on Monday, as traders were wary about the prospects of international trade after threats from United States President Donald Trump. He tweeted his government would impose conditions on its northern neighbor and Mexico for a "new and fair" North American Free Trade Agreement. Otherwise, the commander-in-chief added, the US will maintain the import tariffs for the two partners for steel and aluminum that he plans to introduce soon on a global scale.
The dollar rose 0.7% to 1.29785 at 5:46 pm CET against its Canadian counterpart, the loonie, following an advance to 1.29905, the highest point since July 7. The euro jumped 1.73% to C$1.60085, after reaching C$1.602 for the first time since January 20, 2016.
The Australian dollar, another currency sensitive to commodities, rallied 0.73% to C$1.00779, unseen since June 27. The pound rose 1.22% to C$1.7986, after hitting C$1.80078, the strongest level since Brexit referendum results.