Canadian PM Trudeau: Agreed to lower commercial rents by 75% in April, May, June

Commercial rents in Canada will be lowered by 75% in April, May and June with the Canadian government covering the 50% of reduction, Canadian Prime Minister Trudeau announced on Friday.

"Commercial rent support applies to small and medium business, aid for large businesses will be announced later," Trudeau added. "The reopening of the economy will not happen overnight; will discuss a gradual, separate approach to reopen with provinces."

Market reaction

The USD/CAD pair edged slightly lower on this announcement and was last seen trading at 1.4090, where it was up 0.12% on a daily basis.