1300 GMT - The Canadian dollar has scope to weaken further after hitting a four-and-a-half year low against the U.S. dollar on Donald Trump's plans to hit Canada with tariffs, Monex Europe analysts say in a note. Markets have "only just begun to price in the potential negative impact on the Canadian economy from trade risks," they say. USD/CAD could rise to 1.50 over the next year if tariffs are implemented, they say. In the more immediate term, the exchange rate's fortunes will likely depend on central bank commentary. Bank of Canada Deputy Governor Rhys Mendes speaks at 1320 GMT while the Federal Reserve's meeting minutes are released at 1900 GMT. USD/CAD rises 0.7% to 1.4087 after hitting a high of 1.4181 earlier.(renae.dyer@wsj.com)
(END) Dow Jones Newswires
November 26, 2024 08:00 ET (13:00 GMT)
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