Currency Trading Range
Whats u with the falling US dollar Is this a sign you spent to much on wars you can’t afford ?
TORONTO (CP) – The Canadian dollar will be worth as much as the U.S. greenback by the end of the year, CIBC World Markets economists predict (TSX: CM.TO).
Friday’s report cites an expected rise in Canadian interest rates and stronger-than-expected economic growth, along with hot commodity prices and an “avalanche” of corporate takeovers that require foreign acquirers to deal in Canadian dollars.
“With the national jobless rate plumbing 30-year lows and core inflation now bobbing above the Bank of Canada’s target range, our earlier assumption of the Bank of Canada intervening against a further rise in the Canadian dollar with rate cuts no longer seems tenable,” says CIBC World Markets chief economist Jeff Rubin.
In fact, he says the central bank will likely welcome a further rise in the currency, which was trading Friday morning at a three-decade high of over 93.7 cents US.
The lower our dollar compared to the US the better for our manufactures – This isn’t good new
we have decided as americans to let our children and grandchilden worry about paying for the war
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