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USD/CAD: buy the dips towards 1.28/1.29 – Scotiabank

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”.

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