USD/CAD: Bessent hints at flexible tariff deadlines for trade partners
USD/CAD remains under pressure near 1.4300 as Treasury Secretary nominee Bessent signals flexibility on Trump's proposed tariff deadlines for countries negotiating in good faith. The comments effectively end the '90 deals in 90 days' timeline, reducing immediate trade war risks for Canada. Bessent confirmed plans to accompany Trump next week for meetings with Canadian officials, including Mark Carney, potentially easing bilateral tensions. The Canadian dollar has strengthened 0.2% against the USD following the announcement, with traders reassessing the likelihood of immediate tariff implementation. Technical indicators show USD/CAD testing support at 1.4280, with resistance at 1.4350. A break below current levels could accelerate CAD gains toward 1.4200, while any renewed tariff threats would likely push the pair back above 1.4400.
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