The Globe and Mail reports in its Friday edition that the Canadian dollar has taken a drubbing in recent days, with a hawkish turn from the U.S. Federal Reserve alongside tariff threats and political turbulence in Ottawa sending the loonie below the symbolic 70-cent mark. The Globe's Mark Rendell writes that the loonie sold off sharply Wednesday and analysts warn that there are few near-term catalysts for a significant turnaround for the loonie -- with the potential for further declines if U.S. president-elect Donald Trump follows through on his tariff threats. So far, the Bank of Canada has played down the weakening loonie, which will add to inflation by pushing up the price of imported goods. National Bank economist Kyle Dahms said the pass-through of currency depreciation into general Consumer Price Index inflation tends to be muted, as many importers have hedged their exposure to the U.S. dollar. That said, some Canadians will feel the weaker loonie. "If you're making Canadian wages in Canadian dollars and you're spending your money in Canada, for the most part, I don't think it's a pressing issue," Mr. Dahms told The Globe. "But if you go between Canada and the U.S., that's probably something on your mind."