US President Donald Trump has criticised the alleged exchange-rate gap between the Canadian and US dollars, calling the “imbalance” unacceptable.
“Canada’s (currency) Dollar imbalance with the US is unacceptable,” Trump wrote on his social media platform Truth Social on Sunday. “It has been that way for years – but no longer!”
Trump did not elaborate on what he meant by the remark.
The Canadian dollar has historically been weaker than its US counterpart for most of the past 15 years. The long-term average stands at about $1 to 1.24 Canadian dollars.
Since 2015, the currency has mostly traded between 1.20 Canadian dollars and 1.45 Canadian dollars against the greenback. It only reached or exceeded parity during part of the 2007-2012 commodity boom, when the Canadian dollar was stronger than the US dollar.
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