Canadian dollar falls in face of U.S. softwood lumber duties

The value of the Canadian dollar tumbled on Tuesday morning after news that countervailing duties of up to 24 per cent will be placed on Canadian lumber exports to the U.S. The loonie briefly fell to its lowest point against the U.S. dollar since February 2016 before recovering somewhat. The Canadian dollar closed at 73.72 cents US at the end of Tuesday, according to the Bank of Canada's official closing rate, down 0.29 cents from its Monday close of 74.01. -- More...