Currencies
Currencies of Trump’s Tariff Targets Slump With Levies Looming
This article is for subscribers only.
The Canadian dollar and Mexican peso slumped after President Donald Trump affirmed the launch of 25% tariffs on products from both nations beginning Tuesday, the latest in a string of trade announcements from the administration that have buffeted investors in the $7.5 trillion-a-day foreign-exchange market.
The loonie dropped as much as 0.6% to 1.4542 and the peso slid 0.9% to 20.75 against the US dollar on Monday, touching the weakest levels since Trump’s previous tariff deadline — for early February — caused traders to sell the Canadian and Mexican currencies. The Bloomberg Dollar Spot Index pared an earlier loss and was down 0.5% while the S&P 500 saw the worst selloff of the year.