FXStreet (Edinburgh) – Senior Currency Strategist at Rabobank Jane Foley sees the Canadian dollar gathering some traction towards later in the year.
Key Quotes
“While the BoC may not be preparing to loosen policy again, the fact that the Fed have started tightening has caused interest rate differentials to weigh on the CAD versus the USD”.
“Additionally, the continued weakness of commodity prices suggests that the CAD is set to remain on the back foot”.
“That said, better economic data should lend some support to the CAD against the USD later in the year”.
(Market News Provided by FXstreet)