By Commodity News Service Canada
WINNIPEG, April 25 (CNS Canada) The Canadian dollar was sharply weaker Tuesday morning, as the US announced it was placing tariffs on Canadian softwood lumber.
At 8:47 CDT Monday morning the Canadian dollar was at US$0.7352 or C$1.3602 which compares with Friday’s North American close of US$0.7412 or C$1.3492.
The US argues that Canadian lumber is unfairly subsidized and is implementing tariffs that range from three to 24 per cent. Canada rejects the claim, and concerns over increased trade disputes between the two countries kept some caution in the currency pair.
Crude oil was slightly weaker Tuesday morning.
The TSX was up by 61.64 points at 8:55 CDT to sit at 15,774.10.
