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 ▼Loonie declines ami  AccullyAerorb 13/11/26(火) 7:53

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 ■題名 : Loonie declines ami
 ■名前 : AccullyAerorb
 ■日付 : 13/11/26(火) 7:53
 ■Web : http://www.grouptravelleader.com/Cheap-Jerseys.Html
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   Loonie declines amid dropping copper and oil prices

TORONTO The Canadian dollar lost ground Thursday after enjoying a recent uptick from rising oil and gold prices.

The loonie was down 0.41 of the cent at 99.26 cents US. economic recovery is gaining momentum.

Andrew Pyle, a portfolio manager with Scotia McLeod, says he doesn't expect it to hit that mark any time soon.

In reality, he or she is predicting the loonie will head downward with all the upcoming instalment of Stephen Poloz because new Bank of Canada governor next month.

"My accept this really is that the new Bank of Canada governor will likely be more dovish on monetary policy and possibly more sympathetic towards the impact which a high Canadian dollar is having on exports and manufacturing," said Pyle from Peterborough, Ont.

Poloz is leaving his job as head of Export Development Canada to battle his new role in the Bank of Canada.

Meanwhile, Pyle claimed it couldn't survive unusual to the loonie to drop to 97 cents US or lower come july 1st.

"Keep planned that fair value for the Canadian dollar is within the 92 to 93 cent range," said Pyle.

"On that basis, we're overvalued of course, if there is a central bank this is definitely likely to be looking at that more and more urgently being a challenge with this economy even as we enter in the second half of the year, then the language could shift. It can't take a good deal of shift through the Bank of Canada to cause this currency to collapse towards that 97 cent mark."

That has been echoed by TD Bank on Thursday, which forecast the loonie is for any rough ride this season despite its recent strength and may drop to just 90 cents US after the year.

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