Briefing highlights
- Loonie slumps as Trump wins presidency
- Mexican peso sinks
- The stock meltdown that wasn't
- Fed may now hold off rate hike
- How Trump could wound Canada
74.5 cents
Where the loonie traded heading into the New York open
5.4%
Loss on the Nikkei
1.1%
Surprise bounce in the S&P 500
The Canadian dollar is taking it on the chin, a “double loser” in Donald Trump’s stunning rise to the White House.
Mr. Trump’s showing overnight roiled financial markets, knocking currencies and stocks and setting up a panicked morning for investors.
The loonie has traded in a wide range, as low as 73.94 cents (U.S.) and as high as 75.38 cents. It was worth about 74.5 cents by midday, not as bad as feared by some, having closed at above 75 cents.
Many currencies have gained on the U.S. dollar, but the loonie and Mexico’s peso aren’t among them. The peso, which tumbled sharply, has been a proxy for Mr. Trump’s chances throughout the campaign given his rhetoric and threats.