1220 GMT - The Canadian dollar rises slightly but is struggling to recover materially from recent losses sustained after U.S. President-elect Donald Trump threatened to impose tariffs on Canada, Monex Europe analysts say in a note. It's notable that USD/CAD remains above 1.40, they say. USD/CAD has been slow to rise since the U.S. presidential election but has also largely failed to participant in any retracements. "This dynamic gives us confidence that a slow grind higher for [USD/CAD] is most likely as markets continue to price in Trump-related risks." For now, the U.S. Thanksgiving holiday and absence of data could see the exchange rate "tread water." USD/CAD falls 0.2% to 1.4005 after hitting a four-and-a-half-month high of 1.4181 on Tuesday, according to FactSet.(renae.dyer@wsj.com)
(END) Dow Jones Newswires
November 28, 2024 07:20 ET (12:20 GMT)
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