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TORONTO, Jan 20 - The Canadian dollar strengthened to a near 5-week high against its U.S. counterpart on Monday as the prospect of U.S. trade tariffs grew less imminent and a Bank of Canada survey showed that firms are beginning to anticipate improved activity.
Donald Trump will issue a broad trade memo that stops short of imposing new tariffs on his first day in office but directs federal agencies to evaluate U.S. trade relationships with China, Canada and Mexico, an official said. "Financial markets are staging an across-the-board relief rally," Karl Schamotta, chief market strategist at Corpay, said in a note."Gains could accelerate somewhat ahead of tomorrow's U.S. equity market open, but the ride will remain bumpy as major unknowns remain around the incoming administration's policy direction."
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