Trump Cancels Canada Trade Talks - Traders Watch CAD Drop 87 Pips
Key Points
- Canada's digital services tax on U.S. tech giants triggered ...
The Canadian dollar just learned what happens when you tax Silicon Valley's favorite children. After Canada slapped a digital services tax on American tech giants, Trump responded with the diplomatic equivalent of blocking someone on social media – he canceled all trade talks and called it a "blatant attack."
The USD/CAD pair shot up 87 pips to 1.3727 faster than you can say "sorry, eh." That's trader speak for the loonie getting its tail feathers ruffled in real time. The pair even kissed 1.3758 before settling down, proving that currency markets move faster than a Tim Hortons drive-through ...
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