Glacier FarmMedia | MarketsFarm — The Canadian dollar was weaker on Monday amid broad strength in the United States dollar internationally.
The Canadian dollar settled at US$0.7144 or US$1=C$1.3998, which compares with Friday’s close of US$0.7180 or US$1=C$1.3927.
China and the U.S. agreed to cut tariffs on each other for 90 days after representatives met in Switzerland over the weekend. Chinese tariffs on most U.S. goods will drop to 10 per cent from 125 per cent, while U.S. tariffs fall to 30 per cent from 145 per cent.
Crude oil was stronger, with West Texas crude oil up by 1.66 per cent at US$62.03 per barrel.
The TSX Composite Index climbed 174.44 points to close at 25,532.18 points.
