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Loonie falls to lowest level since 2020 after Trump issues tariff threat
The Canadian dollar fell to its lowest level since May 2020 after Donald Trump threatened to impose tariffs on Canadian goods shipped to the United States once he takes office in January. The threat of tariffs added a further drag on the loonie, which has been moving lower against the U.S. dollar since September. The loonie was at 71.01 cents US in early afternoon trading after dipping below 71 cents US earlier in the day. BMO Capital Markets senior economist Robert Kavcic said financial markets were responding to increased risk on the trade front. "It's a pretty stiff headwind against the currency that's ... (full story)