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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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Kremlin Rejects Dialogue With EU’s Kallas

 

EU High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission Kaja Kallas accompanied by Commander of EUFOR Major General Florin-Marian Barbu.

Russia has issued a blunt dismissal of any possibility of diplomatic engagement with the European Union’s foreign policy chief, Kaja Kallas. The Kremlin stated that it has no intention of holding discussions with her and will instead wait until her term ends before considering renewed contact with EU leadership.

Kremlin spokesperson Dmitry Peskov framed the stance as definitive, describing Kallas as an unacceptable counterpart for dialogue. His remarks reflect Moscow’s broader frustration with EU policy toward Russia, particularly regarding sanctions and support for Ukraine.

The refusal marks another setback in already strained relations between Moscow and Brussels. With the Kremlin signaling it will simply “wait out” Kallas’s tenure, prospects for meaningful diplomatic progress between Russia and the EU remain distant.


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