Forex
US Tariffs Postponed for Three Days: Relief for Canada
The US dollar has remained defensive against most G10 currencies, except for the Australian dollar which is nursing a small loss. The Japanese yen has taken the lead among the G10 pack, with the greenback holding above JPY159 in Europe. The Canadian dollar has firmed up and is testing yesterday's high following a last-minute postponement of US tariffs by three days to allow for continued talks.
The decision has provided some relief for Canada, which had been bracing itself for the potential impact of the tariffs. However, the rout in tech stocks continues to ripple through most Asia Pacific bourses and Europe's Stoxx 600 is extending its losing streak for a sixth consecutive session today. US index futures are trading softer as well.