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USD/CAD steadies after spike to 5 year highs
Late yesterday evening a report on a major news wire suggested the US president is about to impose a 25% trade tariff on Mexico and Canada. The USD/CAD was trading not much above 1.44 when the news broke. This news sent it spiking above the 1.4516 high seen last year. The report was very soon underpinned by comments from Trump himself, stating he will most likely make a decision on that next Thursday. Well, the USD/CAD came back down following that, but not until it had spiked to the highest level since 2020, when rising to 1.4595. The USD/CAD later closed in the US at 1.4486. Since then and so far today it has been trading sideways, with a slight downside bias, in a range covered by 1.4472 to 1.4511. IT is right now at 1.4480
Market News
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