USD/CHF loses traction to near 0.9040 in Tuesday’s early European session. Trump's tariff confusion and cautious mood boost the Swiss Franc against the USD. The cautious stance of the Fed might cap the downside for the pair.

USD/CAD depreciates as the CAD gains support following the news of PM Trudeau’s resignation. Canada is considering advancing the release of retaliatory tariffs on US goods.

The AUD/USD pair rallied as most forex traders and investors returned from the Christmas and New Year break. It rose for the third day, reaching a high of 0.6300, then pared back some of those gains to trade at 0.6240.