Scotiabank predicts that the USDCAD currency pair, currently at a rate of 1.34814, will likely decline further to the low to mid-1.34 range if it falls below 1.3490 due to its weakness.

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USDCAD Chart by TradingView

Loonie is underperforming but that essentially means no movement in USD/CAD around the 1.35 level. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes the pair’s outlook.

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