Loonie Tumbles to Two-Year Low as Trump Win Changes US Dollar's Trajectory [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
The loonie traded as low as C$1.3959 per US dollar on Wednesday morning as the greenback strengthened in response to the Republican candidate's decisive win. It also reached that level on Nov. 1, which marked its lowest intraday price since October 2022. The US dollar surged against the majority of the world's currencies following Trump's victory, including all G-10 currencies. The loonie was down about 0.8% in late morning trading New York time, the smallest hit among the G-10. The British pound, euro and Japanese yen were all down by more than 1%. Bank of Montreal economists said Canada's economy might benefit initially from stronger American growth, as the US buys three-quarters of Canada's merchandise exports. However, in the medium term, the country might be one of the hardest hit from Trump's protectionist policies. “Increased uncertainty about tariffs and the fate of the US-Mexico-Canada Agreement ahead of the 2026 review could depress capital flows to Canada and weaken
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