USD/CAD: Scope for more significant losses is getting narrower – Scotiabank USDCAD Banks
“USD gains late yesterday saw spot challenge the 1.35 area, which held the USD advance to keep the longer run bear pattern in play. The reality is, however, that the CAD has found it hard to progress against a soft USD overall in the past couple of weeks and absent a concerted run lower in funds in the near-term, the scope for more significant losses is getting narrower.” “Support is 1.3400/10; weakness below here should give the USD a clearly negative jolt.
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