1055 GMT - The Canadian dollar has limited scope to rise after President Trump temporarily delayed tariffs on many goods from Canada and Mexico, ING analyst Francesco Pesole says in a note. "Markets had never priced in 25% tariffs as a long-lasting measure, and USD/CAD already corrected from the highs before yesterday's move." Canada also still faces a hit from reciprocal U.S. tariffs in April, he says. USD/CAD could rise to 1.44 in coming weeks, although a potentially softer U.S. nonfarm payrolls report at 1330 GMT could add some pressure on the exchange rate in the near term, he says. USD/CAD rises 0.1% to 1.4308 after hitting a one-and-a-half-week low of 1.4239 Thursday, according to FactSet. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
March 07, 2025 05:55 ET (10:55 GMT)
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