Canadian dollar is the strongest major currency on Wednesday as investors hope for a deal on trade between the US and Canada. Donald Trump caused a lot of uncertainty when he slapped tariffs on imports of steel and aluminium from Canada and these concerns were intensified as NAFTA talks stalled. However the US administration wants to talks directly to Canada and there were suggestions that it could backtrack on tariffs to show good faith. USDCAD is down 0.7% today but the Loonie gains more against the Swiss franc (1.1%) and the Japanese yen (1%). Traders await the PMI from Canada (3pm GMT) and the G7 meeting that starts on Friday.
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