USD/JPY-Commentary
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March 4, 2025 7:46 AM UTC
Late comments from Trump that 25% tariffs on Canada and Mexico would be implemented as scheduled on Tuesday sent USD/CAD, which had earlier seen a brief move below 1.44, well above 1.45 overnight, and USD/JPY plunged to a low of 149.10.
March 3, 2025 7:40 AM UTC
Tariffs on Canada, Mexico and China are due to be imposed tomorrow but now look likely to be les than the threatened 25%. However, USD/CAD still looks biased higher if the tariff increase is significant. USD/JPY looks very out of line with yield spreads and could see a sharp move lower.