On July 11, 2025, global markets reeled after U.S. President Donald Trump announced a steep 35% tariff on Canadian imports, sparking renewed trade tensions and lifting the U.S. Dollar. The U.S. Dollar Index (DXY) pushed above 97.50 as traders sought safety in the greenback. USD/CAD surged toward 1.3700, reflecting immediate pressure on the Canadian Dollar. Meanwhile, EUR/USD slipped below 1.1700 ahead of a potential U.S.-EU tariff deal, and NZD/USD retreated to the 0.6000 handle amid risk-off sentiment. The tariff shock dampened risk appetite globally and repositioned flows across major FX pairs. Markets now await ... (full story)