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Canadian dollar and business outlook

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Published: 14 hours ago

Glacier FarmMedia — The Canadian dollar was stronger Friday morning as currency markets reacted to the latest trade news out of the United States.

At 9:14 a.m. CDT the Canadian dollar was trading at US$0.7254 or US$1=C$1.3785 which compares with Thursday’s close of US$0.7223 or US$1=C$1.3844.

U.S. President Donald Trump signed executive orders placing import tariffs of 10 to 41 per cent on dozens of countries. Canada’s import tariff for goods not compliant with the Canada-U.S.-Mexico Agreement (CUSMA) was upped to 35 per cent.

Crude oil was softer in early trade amid expectations for increased output from OPEC+ nations. West Texas Intermediate was down 1.65 per cent at US$68.12 per barrel.

The TSX was weaker, losing 281.56 points at 9:14 CDT to trade at 26,978.22.

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