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USD/CAD rebounds sharply back above 1.45 as weekend tariff threat remains in play
Earlier today the USD/CAD did fall back. Perhaps that was rather surprising given the spike to 1.4595 last night. The low seen was set at 1.4431 just as the European markets reopened. Since then it has been a gradual rise. However, in the past few minutes the US dollar has spiked higher again, rising steeply to 1.4540 just now. The reason for this seems to rest once again with what took the USD/CAD close to 1.46 yesterday and that is the threat of a 25% US tariff on Canadian oil and other exports, which might come into force over the weekend. The high seen just now was set at 1.4550. It is currently trading at 1.4532
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