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- Canadian dollar rose, as Canada is ready to make concessions in negotiations with the US on NAFTA
Canadian dollar rose, as Canada is ready to make concessions in negotiations with the US on NAFTA
The dollar declines slightly on Wednesday, as Canada said it was ready to make a concession to resolve the negotiations for the the North American Free Trade Agreement, although concern about the tension in trade between the US and China dragged on.
China asked the World Trade Organization on Tuesday to grant permission to impose sanctions against the United States in response to Washington's non-compliance with the ruling in the dispute over American dumping duties.
The dollar index. DXY, which measures the dollar against six major counterparts, fell 0.1% to 95.133 in early trading.
The dollar declined, especially sharply against the Canadian currency, after two Canadian sources familiar with the strategy of talks said that Canada is ready to offer the United States limited access to the Canadian dairy market as a concession.
The protected dairy industry in Canada is a stumbling block in the NAFTA negotiations between the two countries. Canadian Foreign Minister Cristia Freeland returned to Washington on Tuesday for talks aimed at saving NAFTA.
However, concern about the trade dispute between China and the United States - the world's largest economies - has kept many investors from taking risks.
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