Canadian dollar slides to 14-month low as U.S.-Canada yield gap widens

The Canadian dollar fell to a 14-month low against the U.S. dollar after the Federal Reserve’s hawkish shift widened the U.S.-Canada interest-rate differential. Trade uncertainty also weighed after President Donald Trump questioned the value of the USMCA and said he would prefer not to have a new deal, while still leaving the door open. Oil-price declines added pressure as an interim arrangement tied to Iran raised expectations for greater global supply, including a reopening of the Strait of Hormuz and easier sanctions. WTI crude futures fell 1.9% to $75.30 a barrel, the lowest since late February.