FX.co ★ Canadian Dollar Strengthens to Highest Since November

In April, the Canadian dollar advanced beyond $1.4, reaching its peak since November. This appreciation is attributed to a weaker U.S. dollar alongside a more favorable trade policy landscape. Notably, a 90-day suspension on additional U.S. tariffs reset most countries' basic tariff rate to 10%, with China facing a significantly higher 145% rate. This change has reduced pressure on Canadian exports and prompted investors to redirect capital back into Canada. Concurrently, the potential for a U.S. recession, fueled by stringent trade policies and uncertainties around future strategies, has diminished the dollar's reputation as a safe-haven currency.