The Canadian dollar is set to strengthen less than previously thought over the coming year as sticky inflation potentially delays Federal Reserve interest rate cuts and uncertainty grows ahead of the U.S. presidential election, a Reuters poll found.
The Canadian dollar is expected to strengthen less than previously thought over the coming year due to sticky inflation and uncertainty ahead of the U.S. presidential election, according to a Reuters poll. Analysts forecast a 0.9% strengthening of the loonie to 1.34 per U.S. dollar. This matches the previous month's forecast, but falls short of the 1.30 forecast from one month ago. The potential delay in Federal Reserve interest rate cuts and a stronger U.S.
dollar are cited as factors contributing to the revised forecast
Canadian Dollar Strengthen Inflation Federal Reserve Interest Rate Cuts Uncertainty U.S. Presidential Election Reuters Poll
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