Canadian dollar falls after Liberals won the election
Canada, what have we done.
Quote:
Trudeau campaigned on a plan that included running $25 billion in deficits over three years to stimulate the economy with infrastructure spending, while increasing taxes on top earners and cutting them for the middle class.
“Investors are somewhat cautious about the change in government,” said Bipan Rai, director of foreign-exchange strategy at Canadian Imperial Bank of Commerce’s CIBC World Markets unit by phone from Toronto. “It might be due to some uncertainty about how the fiscal picture is going to look.”
The loonie fell 0.2 percent to $1.3044 per U.S. dollar at 10:10 p.m. in Toronto - or 76.66 cents (U.S.). At the close of North American trading at 4 p.m. (ET), it was trading at 76.81.
Stay strong Canada