Gate.io: Mexican Peso Shows More Resilience Against Canadian Dollar Under Tariff Threats

On February 28, Chris Turner, an analyst at ING Bank, said in a report that the Mexican peso performed better than the Canadian dollar because Mexico is more likely to reach a trade protocol with the United States. After Trump confirmed that he imposed tariffs on Mexico and Canada on March 4, Mexico could lose more than Canada (and therefore have more incentive to reach a protocol). “The possibility of a protocol with Canada could drop, and Canada could be more resistant to being kicked out by other trade agreements, such as the CPTPP.” If tariffs are imposed, USD/CAD could rise to 1.48, Turner said.