Glacier FarmMedia — The Canadian dollar was softer on Friday, amid escalating trade tensions with the United States.
The Canadian dollar settled at US$0.7136 or US$1=C$1.4014, which compares with Thursday’s close of US$0.7146 or US$1=C$1.3993.
U.S. President Donald Trump posted to social media Thursday night that all trade talks with Canada were terminated, due to an advertisement from the Ontario government that included clips from former U.S. President Ronald Reagan supporting free trade and speaking out against tariffs.
After speaking with Prime Minister Mark Carney, Ontario Premier Doug Ford said the ads would be paused next week Monday, after running during Major League Baseball’s World Series games over the weekend.
Crude oil was softer, with West Texas Intermediate crude oil down by 0.61 per cent at US$61.41 per barrel.
The TSX Composite Index gained 166.79 points at 30,353.07 points.
