USD/CAD to move downward to 1.20 by late 2022 – BMO

USD/CAD stays caught in a vary under mid-1.2400s. But given the Bank of Canada’s coverage stance, economists at the Bank of Montreal count on the pair to part decrease toward 1.20 by way of late 2022.

Moderation in strength fees to cap CAD upside potential
“The central bank’s hawkish pivot and rising electricity costs have put some wind below the Canadian dollar’s wings.”

“We see the loonie cruising relatively greater to 1.20 by way of late 2022 as the Bank hikes quotes in advance of the Fed, even though an anticipated moderation in power expenditures will cap its altitude.”

 

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