Ottawa: It hit below $0.70 US for the first time since March 2020 on Tuesday, as political uncertainty surged in the wake of the resignation of Finance Minister Chrystia Freeland amid a $61.9-billion federal deficit. The threats of U.S. tariffs, and the aggressive Bank of Canada rate cuts, are other important reasons for this fall. It would continue weakening unless things change economically or on trade tension fronts.