USD/CAD & USD/CHF spike on Trump's aggressive tariff threats

USD/CAD surged 1.2% to 1.4350 and USD/CHF jumped 0.9% to 0.9180 following President Trump's announcement of potential tariffs of 35% on Canadian imports and 39% on Swiss goods. The aggressive trade rhetoric sent shockwaves through forex markets during Friday's Asian session, with both CAD and CHF weakening significantly against the greenback. The Canadian dollar faced additional pressure from concerns over energy sector impacts, while the Swiss franc's safe-haven appeal diminished amid trade uncertainty. Technical indicators show USD/CAD breaking above the 1.4300 resistance level with momentum targeting 1.4400, while USD/CHF cleared the 0.9150 barrier. Traders are positioning for continued volatility as markets assess the likelihood of actual tariff implementation and potential retaliatory measures. The moves mark a significant shift in North American trade dynamics and could trigger broader risk-off sentiment across G10 currencies.