Forex
Canada Vows to Match US Tariffs Amid Ongoing Trade War
US and Canadian trade talks collapsed just before a midnight deadline, triggering new 50% tariffs on $20B worth of goods.
Canadian Prime Minister Mark Carney vowed to retaliate 'dollar for dollar' as the country promised to match US tariffs.
The breakdown in talks has put pressure on the Canadian dollar, which weakened against the US dollar. Bitcoin rose by 4.7% to $78,523, suggesting it may sometimes act as a hedge during times of uncertainty.
Gold prices also increased by 1.97% to $4,661.60 as investors turned to safe-haven assets amid trade tensions.