2124 GMT - The savage moves in FX markets since President Trump's tariffs announcement makes clear that many investors were still viewing tariff threats as a bargaining tool, says Sean Callow, currency analyst at InTouch Capital Markets. Investors may have been expecting any decision to be moderated by advisers such as Treasury Secretary Bessent, he says. The market has been punishing the CAD in early trade on Monday. The U.S. tariffs on Canada were on the extreme end of market scenarios, while Trump has promised to hit Europe hard, Callow adds. USD/CAD is up 1.4% since Friday, approaching 1.4730. (james.glynn@wsj.com; @JamesGlynnWSJ)
(END) Dow Jones Newswires
February 02, 2025 16:24 ET (21:24 GMT)
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