Canada Dollar Strengthens to Nearly 5-Month On Rate Outlook, USD's Falling Luster -- Market Talk

Dow Jones04-10

1358 ET - The Canadian dollar strengthens to a near five-month high relative to the U.S. dollar. According to data provided by Tullett Prebon, USDCAD dropped below C$1.40 for the first time since late November, into C$1.39 territory. The WSJ Dollar Index is down 1.34%, and traders resumed a selloff of equities following President Trump's 90-day tariff reprieve. Traders are gravitating toward a Bank of Canada pause next week, following seven straight rate reductions, says Bank of Nova Scotia chief foreign-exchange strategist Shaun Osborne. "But a major driver over the past day or so has been the obvious loss of faith in the USD," Osborne says. (paul.vieira@wsj.com, @paulvieira)(Paul.Vieira@wsj.com)

(END) Dow Jones Newswires

April 10, 2025 13:58 ET (17:58 GMT)

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Traders are gravitating toward a Bank of Canada pause next week, following seven straight rate reductions, says Bank of Nova Scotia chief foreign-exchange strategist Shaun Osborne. \"But a major driver over the past day or so has been the obvious loss of faith in the USD,\" Osborne says. 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