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Canadian Dollar Weakens | US-China Trade War Escalates

Published September 3, 2019
  • The Canadian dollar fell on Tuesday amid deteriorating US-China trade relations and lower WTI oil prices. The Canadian dollar was trading at 1.3377 against the greenback at time of writing.
  • The US has imposed fresh tariffs of 15 percent on Chinese imports as China¬†began imposing new duties on US crude, the latest escalation in a bruising trade war. However, US President Donald Trump said that both sides will still meet for talks later this month. The US Dollar Index was trading higher at 99.30 this morning.
  • British opposition Labour Party leader, Jeremy Corbyn, said he was ready to fight an election, however, his priority was to prevent a no-deal Brexit. Earlier, British Prime Minister Boris Johnson implicitly warned lawmakers that he would seek an election if they tied his hands-on Brexit.