Today, the Canadian Dollar experienced significant volatility, hitting a five-year low against the U.S. Dollar before making a partial recovery. This rollercoaster ride was largely due to President Trump’s comments about possibly imposing a 25% tariff on Canadian imports starting February 1st. The market is skeptical about whether these tariffs will actually be implemented, but the uncertainty has definitely made waves.
Sources:
https://www.fxstreet.com/news/canadian-dollar-whipsaws-on-tariff-talk-and-cpi-prints-202501211923
h/t IAmNotAnEconomist
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