The Canadian dollar came under pressure yesterday after US President Trump said that the US will not exempt Mexico and Canada from tariffs if a fair NAFTA agreement is not reached. Overnight, the RBA stood pat, making little changes to the statement accompanying the decision.
CAD Slides to the Lowest since July after Trump’s Tweets
The US dollar traded mixed against the other G10 currencies on Monday. It gained the most against CAD, JPY and CHF in that order, while it underperformed the most against GBP, AUD and EUR.
The Canadian dollar was the main loser among the majors following some tweets by the US President Donald Trump. Trump said that NAFTA has been a bad deal for the US and that Mexico and Canada will be exempted from the tariffs on steel and aluminum only if a new and fair agreement is signed.
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