Peso, Loonie Spike After NAFTA Discussions End With "Success"... Delay Until 2018

NAFTA negotiators said they "successfully completed" Round 4 of their discussions... adding that talks will be extended past the end-2107 deadline (odd definition of success?). Nevertheless, this seems to have appeased the FX markets as both the peso and loonie are spiking...

• *NAFTA NEGOTIATORS SAY THEY SUCCESSFULLY COMPLETED ROUND 4
• *NAFTA MINISTERS SAY MEXICO TO HOST ROUND 5 NOVEMBER 17-21
• *NAFTA MINISTERS EXTEND PERIOD BETWEEN ROUND 4 AND ROUND 5
• *NAFTA MINISTERS SAY NEW PROPOSALS HAVE CREATED CHALLENGES, GAPS
• *FREELAND: NAFTA HAS BEEN GOOD FOR MILLIONS IN ALL THREE NATIONS
• *NAFTA MINISTERS SAY MORE ROUNDS TO BE SCHEDULED THROUGH Q1 2018

And the dollar is being sold...