Wells Fargo(US:WFC) Xin Lang Cai Jing·2026-01-28 15:11Core Insights - The report by Wells Fargo's macro strategist Erik Nelson indicates that the bank's USD/CAD trading recommendation was stopped out after a 0.4% decline, triggered by comments from President Trump that led to a significant drop in the dollar [1][2]. Group 1: Trading Strategy - Wells Fargo entered the trade at a price of 1.3680 with a target price of 1.3890, but the stop loss was triggered at 1.3620 [4]. - The recommendation for this trade was based on Trump's threats to impose tariffs on Canadian goods and the uncertainty surrounding the US-Mexico-Canada Agreement (USMCA) review [4]. Group 2: Market Outlook - According to Nelson's report, Wells Fargo expects the recent decline of the dollar to either dissipate or reverse in the near term [5]. - Nelson noted that Trump has historically opposed the depreciation of Asian currencies, suggesting that a more interesting development would be a clear change in US dollar policy by the Treasury or coordinated intervention by the G7, neither of which has occurred yet [5].