Toronto: The Canadian dollar has strengthened despite a slowdown in exports following tariff hikes imposed by US President Donald Trump.
When the Liberal Party’s Mark Carney-led minority government assumed office, the Canadian dollar was trading at around 67 US cents. Since then, the currency has gained ground, supported by the government’s austerity-driven fiscal measures and efforts to repair strained ties with several countries amid ongoing trade pressures.
Economists said these steps have helped restore international market confidence in Canada while also supporting domestic consumption. The improved sentiment has contributed to a steady recovery of the currency.
The Canadian dollar has risen from a low of about 67 US cents to nearly 72.5 cents in recent months. Economists believe the currency is likely to remain firm and see its current strength against the US dollar as a positive indicator for Canada’s economic outlook.
