Canadian Dollar Seen Recouping Some Losses If Global Economy Starts Healing: Reuters Poll

A Canadian dollar coin, commonly known as the "loonie", is pictured in this illustration picture taken in Toronto, on January 23, 2015. Mark Blinch/Reuters

TORONTO—The Canadian dollar will regain some lost ground over the coming year along with a potential recovery in the price of oil and in the global economy after it was crippled by the CCP virus pandemic, a Reuters poll showed.

The loonie, which was the top-performing G10 currency in 2019, has weakened about 8 percent since the start of the year as investors bet that Canada’s trade-dependent economy would be hit particularly hard by the pandemic, with the outlook worsened by a crash in the price of oil, one of the country’s major exports.