The Canadian Dollar is the third-best performing G10 currency year-to-date behind the safe havens Swiss Franc and US Dollar. Economists at Rabobank expect the USD/CAD pair to surge higher toward 1.38 by the end of the year.
CAD to outperform on the crosses in the coming months
“We still expect CAD to outperform on the crosses in the coming months despite seeing upside for USD/CAD.”
“USD/CAD has been volatile and will likely continue trading in wide ranges.”Our base case is for “USD/CAD to trade back to 1.38 by year-end.”