JPMorgan Chase: Exercise Caution in Response to Tariff-related News, Remain Cautious of Non-Trump Direct Comments

BlockBeats News, March 5th. U.S. Bank stated that some positive sentiment regarding the prospect of a tariff compromise is emerging, but caution is still needed. Kenn Brendan McKenna, a strategist at U.S. Bank in New York, stated, "I have realized that for any comments not directly from Trump, one should not immediately trade on or believe them. Therefore, so far, I will continue to be cautious and tend to seek safe havens. However, if tariffs are reduced and an agreement is reached, the Canadian dollar, Mexican peso, and the entire FX market should see some relief rally."

Previously, the U.S. Commerce Secretary stated that he believes Trump will compromise on tariffs with Canada and Mexico or announce exemptions tomorrow. (FX678)