The Canadian dollar steadied near a two-week high against its U.S. counterpart on Wednesday as data showed Canada's trade balance shifting into surplus, with the currency holding on to its gains since Canada won a reprieve from U.

The Canadian dollar reacted as well, dropping to a 22-year-low against the American dollar at US$0.6854. But after U.S. President Donald Trump announced a 30-day pause of tariffs against Canada and Mexico, citing new border security measures in the two countries, the dollar has rebounded sharply.

The value of the Mexican peso and Canadian dollar jumped Monday after officials from both countries said President Trump agreed to [delay wide-ranging U.S. tariffs by a month](

The Canadian dollar clawed back much of its decline against its U.S. counterpart on Monday as investors weighed the possibility of Canada achieving a reprieve from U.S. tariffs, with the currency rebounding from an earlier 22-year low.