The loonie is up 4.8 per cent since the end of January, when it hit a closing low of 68.8 cents U.S., with the recent increase in its value attributable to investors fleeing the greenback for other havens due to the economic uncertainty brought on by U.S. President Donald Trump ‘s fluctuating tariff policies.

Most stock indexes climbed on Friday, with the Nasdaq up more than 1% in afternoon trading as tech-related shares gained, while the dollar headed for its first weekly rise in over a month.

Canada’s dollar rose against the greenback as Mark Carney was projected to win in the election, keeping the former central banker in the Prime Minister role and his Liberal Party in power.