Pioneer Investment Management projects the Canadian dollar to trade C$1.1 per U.S. dollar or lower over the next six to 12 months.
“In the past few weeks, the performance of the yield curve has become a big driver for the currency,” Sebastien Galy, a senior foreign-exchange strategist at Societe Generale SA, said in the article. “There’s a certain attractiveness to being bearish the Canadian dollar.”
SocGen also sees the loonie dipping to C$1.1 by the end of 2014.
CurrencyShares Canadian Dollar Trust
For more information on the loonie, visit our Canadian dollar category.
Max Chen contributed to this article.