US Delays Tariffs on Canada, Boosting CAD Against USD
The United States has announced a postponement of the planned tariffs on Canada until April 2nd. This delay comes amid a continual weakening of the US Dollar (USD) and a stabilization of oil prices, contributing to a 0.30% rise in the Canadian Dollar (CAD) against the USD on Thursday.
FX analysts Frances Cheung and Christopher Wong from OCBC highlight that this development could further strengthen the CAD as markets adapt to the evolving trade relationship between the two countries. Investors should keep a close watch on how these factors may affect the currencies moving forward.
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