The George Davis Report: June 2026 Edition

USD/CAD: Why so High?

Don’t miss this month’s edition of the George Davis Report, where George discusses the catalysts behind the recent rally in USD/CAD and some hedging opportunities that the rally presents.

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By George Davis, CMT
Published | 1 min read

What you need to know:

1

USD/CAD has appreciated by ~3% since early May.

2

The move from 1.3550 to 1.3970 has pushed the pair to its highest level since December 2025.

3

We examine the catalysts behind the move higher, including yield differentials, investment flows and safe haven behaviour.

4

The linkage between broader USD direction and USD/CAD is revisited in the context of recent price action.

5

The rally presents hedging opportunities for sellers of USD/CAD, with key resistance levels identified in this regard.

For the trading range:

USD/CAD

Buyers

1.3600/1.3700

Sellers

1.4000/1.4100

Don’t miss out - Watch the video now.


View video transcript

Our expert

George Davis
George Davis
Chief Technical Strategist, Fixed Income, Currencies and Commodities, RBC Capital Markets

 

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