MUFG suggests that there is a higher chance of the USDCAD pair experiencing additional downward movement in the near future due to the strong momentum favoring the Canadian dollar.

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USDCAD Chart by TradingView

Economists at MUFG Bank analyze CAD outlook ahead of the Canada CPI data for June.

See – Canada CPI Preview: Forecasts from five major banks, better inflation, but not yet good enough

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