The US dollar and the Japanese yen continued to slide yesterday, while the Canadian dollar was the main gainer among the G10s as market participants remained confident that the US, Mexico and Canada could strike a trilateral deal by the end of the week. The British currency came under selling interest following PM May’s comments on Brexit.
USD and JPY Down, CAD Up as NAFTA Stays in the Spotlight
The dollar continued sliding against most of the other G10 currencies on Tuesday. It gained only against SEK, while it traded virtually unchanged versus NOK, GBP and JPY. The main gainer against the US currency was CAD.
The weakening of the dollar and the yen, combined with a strong Loonie, suggest that market participants continued to cheer the US-Mexico trade deal as well as the prospect of Canada joining in. That said, European and US indices ended their sessions flat, with market chatter suggesting that investors have started to...
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