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Trump escalates rhetoric toward Ontario, USD/CAD edges higher
USD/CAD last traded higher at 1.3857, while Forexlive noted a broader US dollar bid during the session.
Forexlive reported that Trump said he is upset with comments from Doug Ford, the Premier of Ontario, and suggested Canada should be ready to cut electricity exports to the US. The piece also highlighted Trump’s focus on potential cross border pressure points, including pipelines and other lines.
The outlet pointed to Line 5 as a long-term fight tied to Enbridge and the US courts, framing the political rhetoric around possible leverage over infrastructure that runs across borders.
Forexlive said USD/CAD was last up 93 pips to 1.3857, with the pair creeping higher in the US afternoon on a broader USD bid. The article added that Canada’s unemployment rate is 6.4%, noting that the way Canada counts unemployed can differ from the US non farm payrolls approach.