6% of the 7% rise in USD/CAD since October is down to a risk premium – ING

Market news

30 January 2025

6% of the 7% rise in USD/CAD since October is down to a risk premium – ING

As the Bank of Canada concluded in two great articles in its Monetary Policy Report released yesterday, tariffs could be a massive game-changer, ING's FX analyst Chris Turner notes.

Investors are waiting for tariff news

"BoC calculated that 6% of the 7% rise in USD/CAD since October was down to a risk premium. Investors await tariff news either this weekend or, failing that, in April after the Commerce Department and the US Treasury conclude their review into why the US runs persistent trade deficits."

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