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Forex

CAD Underperformance Persists on Wider Spreads After FOMC

Guavy AI Editorial Team
Instruments
USD CAD
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Canadian Dollar underperformance persists due to wider spreads after the FOMC. According to Scotiabank strategists Shaun Osborne and Eric Theoret, USD/CAD remains elevated near 1.40. The Fed/BoC rate differential has returned to 175bps, contributing to the CAD's softness.

The fair value model from Scotiabank suggests a modest USD overvaluation around 1.3894, but with limited prospects for narrowing spreads, the CAD may struggle to recover. Technical analysis indicates potential USD gains above 1.40 toward 1.4050/1.4125.

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