Canadian Dollar Holds Near Fair Value vs US Dollar: Scotiabank

Scotiabank strategists Shaun Osborne and Eric Theoret report that the Canadian Dollar is closely following the broader direction of the US Dollar. USD/CAD experienced a slight decline overnight but has since rebounded and is currently trading near its fair value level.

The analysts emphasize that the pair's movement remains consistent with general USD trends, suggesting limited divergence from valuation models at this time.