USD/CAD to plumme

The loonie is the top-performing currency this year (not counting the crypto kind). Surging commodities, along with a more hawkish turn by the central bank, has pumped the Canadian dollar to six-year highs above 82 cents US. Looking ahead, economists at Bank of Montreal forecast the USD/CAD at 1.1750 by late-2022. A fierce rally in commodity prices fueled the loonie “Resource prices are expected to ease moderately as more supply comes online and as consumer spending is diverted toward the service sector.