The Canadian dollar weakened past 1.36 per USD, backing off from eight-month highs as the greenback recovered from three-year lows as investors digested the latest around US reciprocal tariffs. What had been a July?9th deadline for tariff reinstatements on up to 70% of imports has now been pushed out to August?1st, giving negotiators more time but prolonging the cloud of potential duties on Canadian-made aluminum, lumber and other key exports. At home, Statistics Canada’s June data showed private-sector activity contracting for the seventh consecutive month and the merchandise trade gap widening, reinforcing a narrative of lopsided growth that could prompt the Bank of Canada to adopt a more dovish stance.