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fxJul 16, 2026, 3:11 PM

USD/CAD Flat After BoC Holds Rate, Scotiabank Eyes 1.3981

The Canadian dollar is trading flat against the US dollar following the Bank of Canada's decision to leave policy unchanged. Scotiabank strategists note the pair may target the 1.3981 level.

USDCAD

The USD/CAD pair is little changed after the Bank of Canada held its policy rate steady, as widely expected. Scotiabank strategists Shaun Osborne and Eric Theoret highlight that the central bank maintained a cautious tone on the economic outlook.

According to their analysis, the Canadian dollar may be eyeing a move toward the 1.3981 level against the greenback. The pair's lack of direction reflects the market's digestion of the BoC's measured stance and ongoing growth concerns.

Traders will watch for further cues from data and central bank commentary to gauge the next move in the loonie.

Source: FXStreet Forex News