Loonie surpasses yen as most heavily shorted currency

Trump’s newly announced tariffs are slated to take effect on Aug. 19, resulting in the loonie falling 0.5 per cent last week against its United States counterpart.

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Traders are betting against the loonie in the wake of U.S. President Donald Trump’s announcement to impose fresh 50 per cent tariffs on certain Canadian goods, bringing the Canadian dollar to its most negative bets in two years.

According to the U.S. Commodity Futures Trading Commission, the loonie overtook the Japanese Yen as the most heavily-shorted currency on Friday.