Canadian Dollar Hits Two-Month High, SocGen Sees More Upside
Societe Generale’s Kenneth Broux notes the Canadian Dollar has strengthened to its best level in two months, with USD/CAD mean-reverting toward 1.3933.
USDCAD
The Canadian Dollar has extended its recovery against the US Dollar, reaching the strongest level in two months, according to Societe Generale strategist Kenneth Broux.
Broux points out that USD/CAD is undergoing a mean‑reversion move, with the pair pulling back to 1.3933. The rally in the loonie marks a notable shift after a period of weakness.
The outlook suggests the recovery could have further room to run if the mean‑reversion dynamic continues, though no new catalysts were detailed.
Source: FXStreet Forex News