USD/CAD slides back after Trump offers Canada same 30 day reprieve

Yesterday the news that changed the whole dynamic across the equity and FX markets was the news covered here regarding the 30 day tariff reprieve offered to Mexico by Trump. Well, later on following a phone conversation with the Canadian Prime Minister, Justin Trudeau Trump offered the same reprieve to Canada. The fact that the USD/CAD had already fallen below 1.4668 was perhaps a warning sign and this news from Trump sent it tumbling back even further. The USD/CAD slid to 1.4390 ahead of the US close. It later closed that 1.4428 but immediately dropped on the Asian opening, to set a low at 1.4387, some 400 points below the high seen some 24 hours earlier. It has rebounded so far today and reached a high a little earlier, at 1.4503. That is as the US tariffs against China come into effect today. The USD/CAD is currently trading at 1.4481 and the point remains the same today as made yesterday. This is a 100% a Trump headline based dynamic right now.