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. "The Canadian dollar has been sort of caught up in that move, but it has been a broader move against most of the major global currencies," said RBC's George Davis. As the loonie continues to weaken, so will Canadian purchasing power as imported goods and services from the U.S. become more expensive. Canadian businesses that source inputs from south of the border will also face higher costs.