USD/CAD: Flexing against the 1.4200 base – OCBC

The broad USD softened further. Oil-linked currencies, like the CAD, were the outperformers on further stabilization in the crude complex, Terence Wu from OCBC Bank reports.

Key quotes

“The USD/CAD bounced off the 1.4200 base, effectively keeping the pair within the 1.4200 to 1.4600 range.” 

“For now, expect the pair to continue flexing against the 1.4200 base, with an expectation that it may break lower.”