Nomura FX Strategy Research expects CAD to continue to power ahead, boosted by last week's BoC decision to raise interest rates again at the September meeting.
"The tone of the statement was upbeat, and we are looking for another 25bp BoC rate hike by December. Positive momentum in the Canadian economy, and prospects for higher interest rates should continue to support the CAD," Nomura adds.
"Based on the respective outlooks, we are long CAD against the USD* and NZD*, looking for moves to 1.1950 and 0.8650 respectively," Nomura advises.
Source: Nomura Securities ResearchOriginal Article
