Canada’s dollar rose in a volatile session that saw trade war risks surge and then recede ahead of Wednesday’s Bank of Canada meeting, when policymakers are expected to lower interest rates to head off the economic threat from US levies.

The Bank of Canada’s interest rate announcement arrives on Wednesday in a cloud of uncertainty thanks to a shifting trade war with the United States. Most economists expect the central bank to deliver another quarter-point rate cut while it waits to see how long the dispute with Canada’s largest trading partner lasts.