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10/1/2018, 9:33 AM (Source: TeleTrader)
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Canadian dollar rises after US, Canada reach NAFTA deal

The Canadian dollar rallied against the American greenback on Monday to reach the highest levels in four months after the United States and Canada agreed on a framework for a new trilateral trade deal with Mexico which will replace the North Atlantic Free Trade Agreement (NAFTA). The new trade deal will be called the United States-Mexico-Canada Agreement (USMCA) and it will keep the dispute settlement clause from NAFTA while giving American farmers access to Canada's dairy market and effectively limiting Canadian car exports to the US.

The US dollar lost 0.61% against the Canadian currency to go for 1.2826 at 9:28 am CET. Meanwhile, the greenback fell by 0.93% versus the Mexican peso, to sell for 18.5448 at the same time, the lowest level since August.

Breaking the News / FH