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fxJun 9, 2026, 1:51 PM

Canadian Dollar Holds Near YTD Ceiling vs USD – Scotiabank

Scotiabank analysts note USD/CAD is little changed near the top of its year-to-date range, with conditions favoring a minor Canadian dollar rebound as risk sentiment improves.

USDCAD

USD/CAD is trading near the upper boundary of its year-to-date range, showing minimal change, according to Scotiabank's analyst team. The bank's report suggests that current conditions support a modest rebound for the Canadian dollar, driven by an improvement in risk sentiment.

Scotiabank's assessment points to limited downside for CAD in the near term, as the pair hovers around the YTD ceiling. The analysts highlight that any further gains for USD/CAD may be capped, while a pullback could materialize if risk appetite continues to strengthen.

No specific levels or targets were provided in the note.

Source: FXStreet Forex News