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The US and Canada will be closing the borders to nonessential traffic, US President Donald Trump announced on Wednesday, as reported by Reuters.

Trump further noted that the trade between the US Canada will not be affected by the temporary border closing and said details on the decision will be announced later.

USD/CAD reaction

The USD/CAD pair largely ignored these comments and was last seen trading at 1.4440, adding 1.7% on a daily basis. Earlier in the day, the pair touched its highest level since early January at 1.4474.