Forex Flash: CAD could get stronger in to 2013 – Scotiabank

FXstreet.com (Barcelona) - The USDCAD is rebounding off session lows in the region of 0.9920, dragged lower after the optimism around a solution for the US 'fiscal cliff' in the near have been taking a toll on the greenback.

Camilla Sutton, Chief Currency Strategist at Scotiabank, argued "Technically, USDCAD looks vulnerable to downside. An improving outlook for the US economy combined with expectations that QE3 will be expanded to compensate for the conclusion of operation twist in December and the lack of a credible US fiscal plan should all prove favourable for CAD into 2013".