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You were warned- USD/CAD reverses fall and more

Yesterday the noted slide in the USD/CAD, from a high at 1.4486 to a low at 1.4262 was all about the news reported by the Wall Street Journal. That news stated that Trump would not enact immediate sweeping trade tariffs on Countries such as China, Mexico and Canada. That report was later confirmed by a White House official. Well, much earlier today (yesterday evening stateside) Trump totally poured cold water on all that, when he stated that he thinks they will impose a 25% tariff on Canada and Mexico from February 1. So, what did I say about that yesterday? Please refer to the headline on the Dollar index timed at 2.55pm yesterday. So, the USD/CAD which had closed in the US last night of its worst levels, at 1.4310, spiked to 1.4516 on this news reversal. It has dropped back since, to just below 1.4400, but as you can see, betting on Trump on-way, or the other is very unpredictable and volatile business. The USD/CAD is right now 1.4435
 

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