BOC's Macklem: For many investors, the value of the USD as a hedge has been dented

  • Comments from the Bank of Canada Governor
Macklem Sept 2025
  • The recent performance of the US dollar may be telling us something
  • Trump's attempts to influence the FEd are raising questions about Fed independence
  • Liberation Day tariffs called into question USD safe haven role
  • Canadian leaders need to chart a more-independent course given new relationship with the USA, need to find new markets

There are no monetary policy comments here but he's sounding like a guy whose predecessor became a politician.

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