The Canadian dollar weakened against its U.S. counterpart on Friday as trade negotiations between Ottawa and Washington broke down and markets looked ahead to an expected Bank of Canada interest rate cut next week.

The loonie was trading 0.2% lower at 1.4015 per U.S. dollar, or 71.35 U.S. cents, after moving in a range of 1.3975 to 1.4039. For the week, the currency was nearly unchanged.

U.S. President Donald Trump is frustrated with Canada over trade negotiations that have not been going well, White House economic adviser Kevin Hassett said after Trump cut off trade talks between the two countries.

“The trade headline reinforces the pessimism around CAD and its fundamental backdrop is still pretty weak, so I think people are still happy to buy USD-CAD on dips until the growth side in C

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