“The Canadian dollar has strengthened in recent weeks, gaining nearly 5 cents against the U.S. dollar. The resilience of the Canadian economy and a less dovishhave led to a significant reduction in Canada-U.S. interest rate differentials since the fall of the SVB.”
“Looking ahead, we do not believe that the loonie will benefit from a continued narrowing of interest rate spreads. In light of the recent drop in commodity prices, we expect the USD/CAD to remain in the 1.33 to 1.38 range over the next few quarters.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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