Mortgage News
Loonie to fly above parity by summer: CIBC
<br>The loonie is likely to rise above parity with the U.S. dollar by the summer as higher interest rates, demand for commodities and the perception of Canada as financially solid push up the currency, CIBC World Markets said in a report.<br><br> The Canadian dollar is likely to trade at $1.02 to the greenback by September, before dipping back to 97 cents by year’s end, the report said. <br><br>
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The loonie is likely to rise above parity with the U.S. dollar by the summer as higher interest rates, demand for commodities and the perception of Canada as financially solid push up the currency, CIBC World Markets said in a report.
The Canadian dollar is likely to trade at $1.02 to the greenback by September, before dipping back to 97 cents by year’s end, the report said.