Scotiabank Sees CAD Trading Defensively Amid Tightening Expectations
The Canadian dollar is trading defensively against its G10 peers, according to Scotiabank's analysts.
A key headwind for the currency remains the widening US-Canada yield spreads, which are expected to continue due to firming Bank of Canada (BoC) expectations.
Scotiabank's fair value estimate for USD/CAD stands at 1.4068.