The Canadian dollar weakened against the greenback on Friday, and the yield on benchmark government debt slipped. The loonie was trading 0% lower at C$1.3971 to the greenback, or 71.58 U.S. cents, after trading in a range of 1.

The Canadian dollar will remain weak through at least the end of this year, some experts say, though a rebound could come in 2025. After falling to a four-year low last week, the loonie was up slightly Monday at 71.

The Canadian dollar has slipped to its lowest level in five years. Outside of the depths of the COVID pandemic, the loonie is weaker than it's been since 2015. And experts say the

Katherine Judge with CIBC Capital Markets says the threat of tariffs will likely keep the Canadian dollar low for months, though she says it could rebound in the first part of 2025 if Canada is able to successfully negotiate with the Trump administration.

The Canadian Dollar (CAD) tested a six-day low on Thursday, despite getting pushed back into the day’s opening bids. USD/CAD eased back below 1.3950 for the first time since November 13, but a lack of sustained momentum kept the pair pinned just below 1.4000.

Canadian government 10-year bond yields rose 4.2 basis points to 3.377%. The yield on similar U.S. government benchmark debt rose to 4.4316%. U.S. December crude futures rose 71 cents to $70.1 a barrel on Wednesday.

The heavily shorted Canadian dollar steadied against its U.S. counterpart on Friday, with the currency holding on to a weekly gain as upbeat domestic retail sales data contributed to reduced expectations for Bank of Canada interest-rate cuts.