Trader Michael Capolino works on the floor of the New York Stock Exchange, Friday, June 27, 2025.Richard Drew/The Associated Press
The Canadian dollar sold off Friday afternoon as U.S. President Donald Trump, in a Truth Social posting, said he is terminating all discussions on trade with Canada over Ottawa’s plans to push ahead with a digital services tax at the end of the month.
The TSX also sold off, ending in the red, after earlier Friday reaching a record intraday high. Stocks on Wall Street came off their highs on the news as well, but still ended in positive territory. Both the S&P 500 and Nasdaq closed at all-time highs.
The loonie fell about half a cent to 72.68 cents US after Trump’s comments. It later retraced some of those losses, trading near 72.92 by 4pm ET.
“This Trump post about terminating all discussions with Canada has seen the floor fallout from underneath the Canadian dollar,”…
