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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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Angela Rayner Steps Down Amid £40,000 Stamp Duty Underpayment on Hove Flat

 


Deputy Prime Minister and Housing Secretary Angela Rayner has resigned following revelations that she underpaid approximately £40,000 in stamp duty on her £800,000 flat in Hove. The Labour MP for Ashton-under-Lyne, who also served as deputy leader of the party, admitted the error earlier this week and referred herself to the government’s independent ethics adviser.

The investigation, led by Sir Laurie Magnus, concluded that while Rayner acted in “good faith” and with “honesty and integrity,” she failed to meet the highest standards expected of ministers by not seeking specialist tax advice. The underpayment arose after she declared the property as her main home rather than a second home, reducing the tax due.

In her resignation letter, Rayner expressed “deep regret” over the mistake, stating it was never her intention to pay less than the correct amount. She also cited the impact of the controversy on her family as a factor in her decision to step down.

Prime Minister Sir Keir Starmer praised Rayner’s service, calling her a “trusted colleague” and “true friend,” while Conservative leader Kemi Badenoch criticised the delay in her departure. Rayner’s exit is expected to trigger a significant Cabinet reshuffle, leaving a gap in the government’s housing agenda, including Labour’s pledge to build 1.5 million homes by the end of the Parliament.


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