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Canada`s dollar will reach parity with its U.S. counterpart by year-end on the weakness in the greenback and the resilience of Canada`s economy, according to TD Securities Inc.
"This forecast change reflects the general U.S. dollar- negative view that has characterized our broader forecasts for some time," wrote analysts including Shaun Osborne, chief currency strategist in Toronto at TD Securities, a unit of Canada`s second-largest bank. "It also reflects the view that the Canadian situation is relatively attractive from a fundamental point of view."
The Canadian currency appreciated as much as 0.5% to $1.1099 against the U.S. dollar, the strongest level since Oct. 8, before trading at $1.1108. One Canadian dollar buys 90.03 U.S. cents.
Read the full article here.
"This forecast change reflects the general U.S. dollar- negative view that has characterized our broader forecasts for some time," wrote analysts including Shaun Osborne, chief currency strategist in Toronto at TD Securities, a unit of Canada`s second-largest bank. "It also reflects the view that the Canadian situation is relatively attractive from a fundamental point of view."
The Canadian currency appreciated as much as 0.5% to $1.1099 against the U.S. dollar, the strongest level since Oct. 8, before trading at $1.1108. One Canadian dollar buys 90.03 U.S. cents.
Read the full article here.