USD/CAD TUMBLES BELOW 1.4200 AS US DOLLAR DIVES AMID US RECESSION FEARS
USD/CAD TUMBLES BELOW 1.4200 AS US DOLLAR DIVES AMID US RECESSION FEARS
The USD/CAD currency pair experienced a significant drop, falling to approximately 1.4180 during European trading hours on Wednesday.
The decline in USD/CAD is primarily attributed to a weakening US Dollar, driven by growing concerns over a potential US economic slowdown.
President Donald Trump's recent tariff policies have heightened fears of a trade-induced recession, contributing to the dollar's depreciation.
President Trump has implemented significant tariffs on imports from various countries, notably China, with tariffs now totaling 104%.
These measures have raised concerns about retaliatory actions and their potential to disrupt global trade, further straining the US economy.
The announcement and implementation of these tariffs have led to increased market volatility, with investors reassessing risk and adjusting positions accordingly.
