USD/CAD has edged slightly higher to retest the 1.3600+ area. Economists at Scotiabank analyze the pair’s outlook.
Spot gains appear to have topped out around 1.3610 again.
USD losses are not yet of the magnitude that would indicate a clear technical top has developed but the persistence of USD resistance at 1.3600/1.3610 through March so far suggests near-term risks are geared towards some drift in the USD back to the 1.3550/1.3575 area.
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