CAD getting smashed on Trump tariff comments

Just out:

• Trump says thinking in terms of 25% tariffs on Mexico and Canada

In the Wrap yesterday I warned to watch out for a reversal:

• set up a retrace higher for USD. A sharp one I’d suggest. Something to eye in the hours ahead.

It took a while but here we are … and yeah, a sharp one indeed:

This article was written by Eamonn Sheridan at www.forexlive.com.