Forex Flash: USD/CAD potential decline towards 0.97-0.9850 – Scotiabank

FXstreet.com (Barcelona) - The cross is back to its comfort zone in the proximities of 0.9850 after bottoming around 0.9830, as risk prevailing amongst investors on Monday.

In the opinion of Camilla Sutton, Chief Currency Strategist at Scotiabank, "&most CAD drivers are favourable, with US equities flirting with highs, WTI oil prices having climbed back above $94, the USD broadly weaker on a yeartodate basis, risk appetite strong; in addition markets are pricing in a 30% chance of an interest rate hike in Canada this year. Accordingly, we expect USDCAD to trend lower this week, moving into a new lower range of 0.9700-0.9850".