Steven Barrow three months ago predicted Canada’s dollar would weaken 11 percent against the greenback from its four-year low of C$1.3064 as policy makers considered printing money to kick-start the world’s eighth- largest economy.
Barrow, Standard Bank Plc’s head of research for Group of 10 currencies in London, now says the loonie will strengthen to parity with the U.S.’s legal tender within a year amid increased demand for oil and other Canadian commodities. After closing yesterday just shy of C$1.10, it weakened 1.2 percent to C$1.1108 today after a government report showed employers eliminated more jobs in May than economists forecast.
From Bloomberg News.
Barrow, Standard Bank Plc’s head of research for Group of 10 currencies in London, now says the loonie will strengthen to parity with the U.S.’s legal tender within a year amid increased demand for oil and other Canadian commodities. After closing yesterday just shy of C$1.10, it weakened 1.2 percent to C$1.1108 today after a government report showed employers eliminated more jobs in May than economists forecast.
From Bloomberg News.