US Dollar (USD) is likely to trade in a range between 146.90 and 147.90. In the longer run, a narrower range of 146.50/148.50 is likely enough to contain the price movements for now, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
The USD/CAD pair trades with a positive bias for the third consecutive day on Thursday and hovers near the 1.3880 region, or its highest level since May 21, during the Asian session.
The Canadian Dollar (CAD) started off yesterday’s session underperforming and continued to slide over the rest of the day following the release of softer than expected headline CPI for July, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.