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The Loonie Just Hit a 14-Month Low — Here's What It's Costing You

   Saturday, July 25, 2026 The Canadian dollar has slid to its weakest level since April 2025, and speculators are betting it has further to fall. Here's why it's happening and what it actually means for your wallet. If you've bought anything in U.S. dollars lately — a flight, an Amazon.com order, a hotel for a Florida trip — you may have noticed the exchange rate isn't doing you any favours. The Canadian dollar touched 1.4248 per U.S. dollar (about 70.2 U.S. cents ) last week, its weakest level in 14 months, before steadying closer to 1.41 . It's not just a bad week. Currency speculators have piled into bets against the loonie so aggressively that the Canadian dollar has overtaken the Japanese yen as the most heavily shorted major currency in the world, according to data from the U.S. Commodity Futures Trading Commission. Net short positions against the CAD hit roughly US$12.5 billion — the largest bearish bet on the loonie since December 2024. Why the loonie is ...
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Trump's Transition Team Plans to End Biden's EV Tax Credit

President-elect Donald Trump's transition team is planning to eliminate the $7,500 consumer tax credit for electric vehicle (EV) purchases, a key component of President Joe Biden's Inflation Reduction Act. This move is part of broader tax-reform legislation aimed at reshaping U.S. energy policy.

The decision to end the EV tax credit could have significant implications for the U.S. EV market, particularly for automakers relying on the subsidy to compete against established players like Tesla. While Tesla CEO Elon Musk has indicated that the removal of the credit might slightly impact Tesla's sales, he believes it would be devastating for other U.S. EV competitors.

The energy-policy transition team, led by billionaire oilman Harold Hamm and North Dakota Governor Doug Burgum, views the consumer EV credit as an easy target for elimination. The team believes that removing the credit would gain broad consensus in a Republican-controlled Congress and help offset the cost of extending Trump's original tax cuts.

As the transition team continues to meet and discuss these changes, the future of U.S. clean energy policies remains uncertain. The potential repeal of the EV tax credit highlights the ongoing debate over the direction of America's energy and environmental strategies under the incoming administration.

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