USD/CAD has risen more than 30 pips from the lows of the day as the US dollar rebounds.
It's part of a broader strengthening in the US dollar that's also boosted USD/JPY to the highs of the day. It comes on higher US long-dated yields and uncertainty around outcomes from the war in the Middle East.
Republicans are also fighting over Trump's budget bill and markets will be closely watching tomorrow's US retail sales report for signs of consumer weakness.
Trump is in Alberta meeting with G7 leaders this week in his first foreign trip. So far signs of progress on trade have been minimal and Trump's comments today suggest he remains enamoured with tariffs.
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