Loonie Sees Upside Potential To 1.35-1.37 Against USD

Scotiabank's currency strategists are predicting further upside for the Canadian dollar against its US counterpart, targeting a move towards the 1.35-1.37 range.

The Canadian dollar has shown resilience in recent trading sessions, supported by firm oil prices and a softer US dollar.

A break below the current level of around 1.37 could open the door to this target zone, representing a modest appreciation for the loonie that would be welcome news for Canadian consumers and businesses relying on imports.