22 Jan 2014
Flash: USD/CAD sees scope to test 1.25/1.20 – Societe Generale
FXstreet.com (Barcelona) - Sebastien Galy, Senior FX Strategist at Societe Generale, expects the Canadian dollar to extends its depreciation, allowing the USD/CAD to hit the area of 1.15/1.20.
Key Quotes
"The BoC emphasized the downside risks to inflation and essentially argued that the US economy should reprice the USD higher, while little can be seen yet in terms of positive impact on Canadian investments and on exports."
"They take a positive spin on inflation and growth over the longer term ...presumably because the CAD by then will have weakened so much relative to the USD.We continue to target 1.15/1.20 region. Typically you run around and shoot huzzah when you get it right, so I need to leave my desk for 2 mins."
Key Quotes
"The BoC emphasized the downside risks to inflation and essentially argued that the US economy should reprice the USD higher, while little can be seen yet in terms of positive impact on Canadian investments and on exports."
"They take a positive spin on inflation and growth over the longer term ...presumably because the CAD by then will have weakened so much relative to the USD.We continue to target 1.15/1.20 region. Typically you run around and shoot huzzah when you get it right, so I need to leave my desk for 2 mins."