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

March 5th. U.S. Bank indicated that there is an emerging positive sentiment regarding the prospect of a tariff compromise. Nevertheless, caution still remains. Kenn Brendan McKenna, a strategist at U.S. Bank in New York, said, "I have come to understand that for any comments that are not directly from Trump, one should not immediately act on or believe them. Thus 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 experience some relief rallies." Previously, the U.S. Commerce Secretary stated that he believes Trump will make compromises on tariffs with Canada and Mexico or announce exemptions tomorrow. (FX678)