USDCAD: Rise to the mid/upper-1.35s unlikely to run out of momentum – Scotiabank USDCAD Banks RiskAppetite
USDCAD easily regained a 1.35 handle yesterday. Economists at Scotiabank do not expect the Loonie to strengthen against the US Dollar.“The USD’s rebound through 1.35 undoes a lot of the good work the CAD had done earlier in the week to strengthen versus the USD and shows just how fickle“A swift return to sub-1.3495 levels could restore some of the downward momentum in the market but there are only tentative signs at this point that the USD rise to the mid/upper-1.35s is running out of momentum.
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