The Canadian dollar is now trading at just above US $0.71, its lowest level in almost five years, and most experts predict the dollar will continue to remain weak for the foreseeable future.
The price for almost all goods imported from the United States, from manufacturing supplies to fruits and vegetables will go up.
Victor Adair, a trader who runs a blog, said in the last week the Canadian dollar has fallen about five cents since late September.
“The reason the Canadian dollar goes up almost always doesn’t have anything to do with what is going on in Canada, it has to do with what’s going on in the world,” he said.
Adair said the U.S. dollar has climbed higher since Donald Trump was elected president but it was trending that way before the election.
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“When the currency gets on a roll, as it was, and then to have something else come along …