Canadian Financial Close: C$ softens Monday

Glacier FarmMedia | MarketsFarm — The Canadian dollar was softer on Monday, as currency traders reacted to the latest tariff threats from United States President Donald Trump.

The Canadian dollar settled at US$0.6982 or US$1=C$1.4323, which compares with Friday’s close of US$0.6994 or US$1=C$1.4298.

Trump said Sunday that he would announce new 25 per cent tariffs on all steel and aluminum imports into the U.S., although he had yet to make an official announcement Monday afternoon. Canada currently accounts for nearly 80 per cent of U.S. aluminum imports and is also a major source of steel.

Crude oil was strong, with West Texas crude oil up by 2.06 per cent at US$72.46 per barrel.

The TSX Composite Index gained 215.95 points to close at 25,658.86 points.