TD Securities Sees USD/CAD Converging to 1.38 as BoC Holds Rates
TD Securities reports the Bank of Canada left rates unchanged at 2.25% with a balanced tone, expecting a hold through 2026, and forecasts the Canadian dollar converging to 1.38 against the US dollar.
USDCAD
The Global Strategy Team at TD Securities notes that the Bank of Canada kept its policy rate at 2.25% and maintained a balanced tone. The bank is expected to hold policy steady through 2026, with the next rate hike projected for early... (source truncated).
Against this backdrop, TD sees the Canadian dollar converging to 1.38 per US dollar, implying further weakness for the loonie.
Source: FXStreet Forex News