After President Trump announced new car tariffs, the Canadian dollar fell to 105.02 yen but later went up to 105.81 yen in the European market. However, after the U.S. GDP report, it dropped again. Canada, along with the EU, announced tariffs against the U.S. In response, President Trump warned that if they try to harm the U.S. economy, he will impose even bigger tariffs. As the trade war continues, the Canadian dollar may struggle to rise.
Expected CAD/JPY Price Range: 106.00 – 104.80
Note: The above information does not guarantee profits. Make your own decisions when trading.