USD/CAD: Scope for a substantial drop towards the upper 1.22s – Scotiabank USDCAD Banks
“Short-term price action suggests firm USD support on dips in European trade which might tilt intraday risks towards a test of the low 1.25s early in our session. But we think the broader, bear trend remains deeply entrenched in this market and modest USD gains are likely to attract better USD selling pressure.”
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