On Friday, UBS expressed a conservative outlook on the potential for the U.S. dollar to strengthen against the Canadian dollar, despite recent gains. The financial services firm noted that the currency pair has approached the upper limit of its recent trading range and may not sustain levels beyond 1.40 for an extended period.
The USD/CAD pair has encountered resistance trading consistently within the 1.38–1.40 band since late 2022. UBS predicts this pattern will persist in the near term, even though the U.S. dollar might temporarily climb to 1.40. The firm anticipates that the Federal Reserve will cut…
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