By Commodity News Service Canada
WINNIPEG, June 1 (CNS Canada) The Canadian dollar was weaker Friday morning, as concerns over a mounting trade war with the United States weighed on the currency.
At 9:32 CDT Friday morning the Canadian dollar was at US$0.7705 or C$1.2979, which compares with Thursday’s North American close of US$0.7723 or C$1.2948.
U.S. tariffs on Canadian steel and aluminum went into effect overnight, while Canada has proposed its own retaliatory tariffs set to be implemented July 1. Meanwhile, U.S. President Donald Trump tweeted about Canadian agriculture Friday morning, claiming that “Canada has treated our Agricultural business and Farmers very poorly for a very long period of time.”
Losses in crude oil also weighed on the energy-linked Canadian dollar.
The TSX was firmer at 9:32 CDT, up 6.74 points at 16,068.24.
