Scotiabank: USD/CAD Stays Range-Bound with Downside Bias

Scotiabank analysts Shaun Osborne and Eric Theoret report that the Canadian Dollar has maintained its resilience against the US Dollar amid geopolitical tensions, particularly since the onset of the US/Iran conflict. Despite fluctuations in global markets, the CAD has remained the only major currency to show stability in this climate. Analysts suggest that this range-bound behavior reflects a broader trend of cautious trading. However, the overall sentiment leans towards a possible downside bias for USD/CAD. The market remains attentive to developments that could impact currency values further in the near term.

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