USD/CAD to revert lower towards 1.2700/50 range – OCBC

USD/CAD has moved above the 1.28 level. However, economists at OCBC Bank expect the pair to revere back lower towards the 1.2750/00 zone.

Unlikely sustained upside amid elevated commodity prices

“Sustained upside is not our base case, especially with the commodity complex elevated.”

“Expect the pair to revert lower towards 1.2700/50 range.”