The Globe and Mail reports in its Thursday edition that the Canadian dollar has tumbled to its lowest mark since the early weeks of President Donald Trump's trade war in 2025, a slide that is being driven by strong demand for U.S. dollars and a hawkish turn at the Federal Reserve. The Globe's Sophia Bertuzzi writes that the loonie has hovered just above 70 U.S. cents this week, down from a high above 74 U.S. cents in late January. It had dropped below 69 U.S. cents last year as the second Trump administration embraced protectionist trade policies that posed threats to the Canadian economy. Of late, however, the currency's weakness is largely a story of U.S. dollar strength. A resilient U.S. economy, booming American equity markets and the potential need for higher U.S. interest rates to quell inflation are pushing up the greenback. "There's a lot of things going for the U.S. dollar at the moment," said Sarah Ying, head of FX strategy at CIBC Capital Markets. "The dollar is going to be hot unless something breaks." Ms. Ying said the greenback's rally over the past few months is being driven by massive capital investments in artificial intelligence and demand for U.S. tech stocks, along with underlying economic strength.