FXStreet (Edinburgh) – Strategists at Scotiabank have recommended buying the pair on dips around 1.28/1.29.
Key Quotes
“USDCAD’s drop below 1.30 has been a threat since last week’s weak close and a backdrop of firmer commodities, stronger equities and narrower US‐Canada rate spreads suggests we may have a little more to go in the near‐term at least”.
“We continue to feel that USDCAD weakness to the 1.28/1.29 range offer a better entry point for medium‐term USD long positions”.
(Market News Provided by FXstreet)