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Canadian dollar edges lower as trade tensions weigh on risk assets

by_saqib_iqbal_ahmed
Canadian dollar edges lower as trade tensions weigh on risk assets

Deep divisions on trade between Washington and Beijing were evident at the Asia-Pacific Economic Cooperation summit, with leaders on Sunday failing to agree on a communique for the first time in their history. U.S. Vice President Mike Pence said in a blunt speech on Saturday that there would be no end to U.S. tariffs on $250 billion of Chinese goods until China changed its ways. "The Canadian dollar is still very much leveraged to global demand," said Bipan Rai, North America Head, FX strategy at CIBC Capital Markets.