However a WSJ report highlighted that Trump will only sign a memo asking to investigate trade practices from Canada, Mexico and China. That's the best-case scenario so far, though with Trump everything is subject to change.
Part of the reason for the bounce is uncertainty about what's really coming. Canada and others won't avoid a trade dispute for four years so it's tough to embrace it or any other currencies that are in the crosshairs. That said, it's a great start.
As for what's next, we wait for the next Trump headlines but I think it's a good sign of an interim bottom for the loonie. Trump had months to think about tariffs on Canada and I don't think he's going to change his mind tomorrow (though the threats will continue).
This article was written by Adam Button at www.forexlive.com. Read More Details
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