KF - Dollar Gains Broadly
The US dollar is rising against all the major and emerging market currencies today. The signals from the White House suggest strong pressure will be exerted on Canada to sign on to NAFTA 2.0 or risk losing part of its auto sector, which of course is primarily the production of US brands. At the same time, the US is in no mood to negotiate with Europe or China. This stance seems to ensure trade tensions will rise and stay elevated until at least after the mid-term elections.
The pressure on several emerging markets is also