Drops in the pair towards the 1.36/1.37 band could be buying opportunities, according to Richard Franulovich, Strategist at Westpac. Key Quotes “USD/CAD has not kept with this latest leg down in WTI”. “M&A inflow may be the proximate cause of the decoupling”. “Current oil prices suggest USD/CAD more fairly valued nearer 1.45. BoC’s Lane and Poloz both downplaying rate cut prospects but we expect their tone will shift by their next meeting, March 9, amid ongoing market turmoil, likely further weakness in oil prices and probably more soft local data in coming weeks (business surveys flag more soggy jobs reports in coming months)”. “USD/CAD a buy into 1.36/1.37”. For more information, read our latest forex news.