BoC Preview: Sell US Dollar To Canadian Dollar Rallies Say MUFG, Target 1.2300

The US Canadian (USD/CAD) exchange rate is seen trading at around 1.25291 on Monday, up 0.08% on the daily open. There are no expectations that the Bank of Canada (BoC) will change interest rates at this week’s policy meeting, but there is a consensus that there will be a reduction in bond purchases. Currency analysts at MUFG are cautious over the near-term Canadian dollar outlook with a tapering priced and the Canadian Dollar could continue to under-perform in the short term. US Canadian Dollar Tipped to Slide into 2022 Nevertheless, the global investment bank expects further gains later in the year and the … (full story)

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