Canadian dollar to gain on trade and economic recovery
Analysts predict the loonie will rise to 1.34 per U.S. dollar over the next year as the domestic economy stabilizes. Success in the continental trade pact review and a recovering real estate sector are seen as key drivers for the currency's growth.
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The Canada dollar will rise 3.7% to 1.3400 per United States dollar over the next year as trade reviews and domestic growth stabilize. This forecast follows a Reuters poll of 31 analysts that predicts the currency will reach that level by June of next year. Resolving trade uncertainty and overcoming a surprise technical recession are critical for the currency to sustain this recovery.
