0938 GMT - The Canadian dollar has room to weaken more materially after President Trump said he would press ahead with tariffs on Canada and Mexico next month after a one-month delay, Monex Europe analysts say in a note. "For the time being, we think markets will be cautious about taking USD/CAD aggressively higher, not least given the previous tariff suspension," they say. However, the longer traders wait without hearing news of a further suspension, the higher USD/CAD could rise. Tariffs are likely to be implemented at some point in the coming months, driving USD/CAD to 1.50. USD/CAD trades flat at 1.4258 after hitting a one-and-a-half-week high of 1.4282 late Monday, according to FactSet. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 25, 2025 04:38 ET (09:38 GMT)
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