Canada to extend emergency wage subsidy program by another three months

The Canadian government has decided to extend the emergency wage subsidy program by another three months to the end of August, Prime Minister Trudeau announced on Friday.

"Canada will spend C$450 million to help researchers and research institutions," Trudeau further added.

Market reaction

The USD/CAD pair rose higher in the last minutes but this seems to be a product of broad-based USD strength rather than Trudeau's remarks. As of writing, the pair was up 0.27% on the day at 1.4087.