Canadian Dollar Rises as Mark Carney Considers Race to Become Canadian PM -- Market Talk

Dow Jones

2025/01/07

0856 GMT - The Canadian dollar rises after Mark Carney said he was considering joining the leadership race for Canada's Liberal party after Prime Minister Justin Trudeau resigned Monday. Carney, the former governor of the Bank of Canada and Bank of England, said in a statement to the Financial Times that he was considering the decision closely with his family over the coming days. "Carney would be the most market-friendly candidate, but the domestic political shake-up will be insufficient to drive USD/CAD materially lower by itself," ING's Chris Turner says in a note. The Canadian dollar could remain weak as the prospect of trade tariffs under U.S. President-elect Donald Trump will hit Canada, he says. USD/CAD falls 0.2% to 1.4310. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

January 07, 2025 03:56 ET (08:56 GMT)

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Carney, the former governor of the Bank of Canada and Bank of England, said in a statement to the Financial Times that he was considering the decision closely with his family over the coming days. \"Carney would be the most market-friendly candidate, but the domestic political shake-up will be insufficient to drive USD/CAD materially lower by itself,\" ING's Chris Turner says in a note. The Canadian dollar could remain weak as the prospect of trade tariffs under U.S. President-elect Donald Trump will hit Canada, he says. USD/CAD falls 0.2% to 1.4310. 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