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USD/CAD could be in for a period of consolidation: BofA Merrill Lynch

Tuesday, February 17, 2015 5:39 PM UTC

Quotes from BofA Merrill Lynch:

- USD/CAD has stabilized recently alongside oil prices while CAD has retraced its recent significant overvaluation

- Low oil prices will likely make the BoC more aggressive contrasting with an increasingly confident Fed who could hike in June

- USD/CAD should consolidate near-term, consistent with our 3Q forecast of 1.23, but should move higher the balance of the year

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USD/CAD could be in for a period of consolidation: BofA Merrill Lynch

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