Cautious on chasing CAD gains further from current levels - RBS

FXStreet (Łódź) - The RBS team of analysts point out that while USD/CAD has tested the 2014 lows, short term interest rate support has moved in favour of the USD over the past few weeks.

Key quotes

"The positive carry environment, and still negative CAD positioning, may keep the CAD supported but we are cautious on chasing CAD gains further from current levels, particularly as rate differentials have moved against it."

"We are neutral on at current levels, with a medium-term bias to sell CAD."