The dollar rebounded slightly on Thursday thanks to a rise in U.S. Treasury yields, though currencies traded in tight ranges as investors struggled to determine the impact of an escalating global trade war on U.

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.

U.S. inflation slowed last month for the first time since September even as additional tariffs on steel and aluminum kicked in Wednesday that could send prices higher