TORONTO: The Canadian dollar weakened against its US counterpart on Friday in volatile trading as investors weighed the uncertain makeup and timing of expected US tariffs on goods from Canada and Mexico.
The loonie was trading 0.2% lower at 1.4520 per US dollar, or 68.87 US cents, after moving in a range of 1.4374 to 1.4550. For the week, the currency was on track to lose 1.2%. It touched on Thursday its weakest level in nearly five years at 1.4592. US President Donald Trump is expected to announce new tariffs on imports from Canada and Mexico that would become effective on March 1, but would include a process for the countries to seek specific exemptions for certain imports, three people familiar with the planning told Reuters.
White House spokeswoman Karoline Leavitt said a Feb.1 deadline still holds.
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