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Analysts see the loonie weakening and crude prices still benefiting from impediments to higher global supply—a combination that could lead to more inflation.
The Canadian dollar’s strength is acting as a headwind for the country’s economic recovery, but its rally isn’t happening in isolation, as broad U.S. dollar weakness has been a trend since last spring
But the net impact on the Canadian dollar is probably quite small, says Greg Anderson, global head of foreign exchange strategy at BMO.
The Canadian dollar appears to be a boring currency, but its recent strength is a bit surprising and worrisome for economic growth, analysts say.
