Loonie Will Fall to 92 Cents (U.S.) by End of 2012 as Brent Crude Slips to $85/Barrel, Predicts Capital Economics
The Canadian dollar will fall to 92 cents (U.S.) by the end of this year and to 86 cents by the end of 2013, predicts Capital Economics in a report today.
The group's Canadian economist, David Madani, ties the prediction to his expectations for lower commodity prices and narrowing interest rate differentials between Canada and the U.S.
He forecasts Brent crude to fall to $85 a barrel by the end of 2012, putting further downward pressure on the loonie.
The Canadian dollar is currently trading at 97.51 U.S. cents, up 0.32 of a cent.
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