1007 GMT - The Canadian dollar and Mexican peso trade steady, recovering somewhat from Tuesday's sharp falls after U.S. President-elect Donald Trump said he planned to hit these countries with tariffs. As the "dust settled, and calmer heads prevailed, it became increasingly clear that these tariff threats are being seen primarily as a negotiating tactic," Pepperstone strategist Michael Brown says in a note. Furthermore, both economies have had time to prepare for potential tariffs and likely have some policy levers to keep Trump relatively happy in the meantime, he says. USD/CAD and USD/MXN trade flat at 1.4062 and 20.6567 respectively. On Tuesday USD/CAD hit a four-and-a-half-year high of 1.4181 and USD/MXN reached 28-month high of 20.8325, according to FactSet. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
November 27, 2024 05:07 ET (10:07 GMT)
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