Camilla Sutton, analyst at Scotiabank commented that the bearish bias in USD/CAD is strong and thus is too seen to pick a bottom, but they don't expect the CAD to sustain those levels for long. “USD/CAD from here—the downward trend is too strong to fight and accordingly it is too soon to pick a bottom; however we do not expect USD/CAD to sustain these levels for long”. “The BoC and exporters are likely uncomfortable as the economy is not strong enough to sustain these CAD levels. We would expect USD/CAD to have retraced some of its recent loses by the July 16th BoC meeting”. “USD/CAD short