{"id":52875,"date":"2024-11-15T20:19:30","date_gmt":"2024-11-15T20:19:30","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/11\/15\/sub-70-cent-canadian-dollar-inching-closer-into-view\/"},"modified":"2024-11-15T20:19:30","modified_gmt":"2024-11-15T20:19:30","slug":"sub-70-cent-canadian-dollar-inching-closer-into-view","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/11\/15\/sub-70-cent-canadian-dollar-inching-closer-into-view\/","title":{"rendered":"Sub-70 cent Canadian dollar inching closer into view"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"\">\n<header aria-label=\"Beginning of Article\" class=\"article-header article-header--story\">\n<nav aria-label=\"Breadcrumb\" class=\"breadcrumbs\" data-aqa=\"nav-breadcrumb\">\n<p>Breadcrumb Trail Links<\/p>\n<ol class=\"breadcrumbs__items list-unstyled\">\n<li class=\"breadcrumbs__item\">News<\/li>\n<li class=\"breadcrumbs__item\">Economy<\/li>\n<\/ol>\n<\/nav>\n<div class=\"article-header__detail\">\n<div class=\"article-header__detail__texts\">\n<p class=\"article-subtitle\">Canadian dollar sank below 71 cents U.S. for the first time since mid-2020<\/p>\n<div class=\"article-meta\">\n<p><span class=\"published-date__since\">Published Nov 15, 2024<\/span> \u00a0\u2022\u00a0 <span class=\"updated-date__since\">Last updated 2\u00a0hours ago<\/span> \u00a0\u2022\u00a0 <span class=\"published-date__word-count\">3 minute read<\/span><\/p>\n<div class=\"article-meta__bottom\">\n<div class=\"bookmark-wrapper\">\n<div class=\"popover\" data-aqa=\"popover\" data-click-to-appear=\"True\" data-container=\"\" data-container-offset=\"\" data-no-style=\"\" data-popover-component=\"\" data-position=\"top\" data-sticky=\"\" data-tail-offset=\"200\" data-tail-position=\"right\"><button class=\"popover__trigger bookmark-button\"><span class=\"save-article-button save-article-button--default\" title=\"Save article\" data-article-id=\"c2e6dc71-c2e0-43c5-98a5-af632a009b1e\" data-evt-skip-click=\"true\"\/><\/button><\/p>\n<div aria-describedby=\"popover-desc-popover-bookmark\" class=\"popover__content\" hidden=\"\" role=\"dialog\">\n<div class=\"popover__content__wrapper\">\n<div class=\"popover__content__text\" id=\"popover-desc-popover-bookmark\">\n<div class=\"bookmark__popover__content\">\n<p>You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<p><button class=\"popover__content__close\" data-evt-skip-click=\"true\" title=\"Close\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\" viewbox=\"0 0 12 12\" class=\"icon--close\" height=\"12\" version=\"1.1\" width=\"12\"><polygon points=\"12 0.95 11.05 0 6 5.05 0.95 0 0 0.95 5.05 6 0 11.05 0.95 12 6 6.95 11.05 12 12 11.05 6.95 6\"\/><\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"featured-image\" data-aqa=\"featured-image\"><picture class=\"featured-image__ratio\"><\/source><\/source><\/source><\/source><\/picture><figcaption class=\"featured-image__caption image-caption\"><span class=\"caption\">The Canadian dollar fell as low as 70.89 cents U.S., lingering below 71 cents U.S. for most of the afternoon on Friday.<\/span> <span class=\"credit\">Photo by John Woods\/The Canadian Press files<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<h2 class=\"visually-hidden\">Article content<\/h2>\n<p data-async=\"\">The Canadian dollar sank below 71 cents U.S. Friday for the first time since mid-2020, breaching a level that some analysts see as a \u201cpsychological barrier\u201d and bringing a sub-70 cent loonie closer into view.<\/p>\n<p data-async=\"\">Friday\u2019s drop came after United States Federal Reserve chair Jerome Powell hinted that a December interest rate cut is no longer a given, setting up a scenario for a wider interest rate differential between the U.S. dollar and its Canadian counterpart.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_2\">\n<section aria-describedby=\"advertisment671203390983103814799280012525568\" class=\"ad\">\n<p>Advertisement 2<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" 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articles per month<\/li>\n<li>Get email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n<div class=\"identity-screen m-x-0 p-x-0 col-xs-12 col-md-6 flex-justify-center flex-align-center\" aria-live=\"assertive\">\n<section class=\"sail\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-sailthru-personalization-engine=\"\" data-sailthru-personalization-engine-component=\"\"\/>\n<div class=\"m-x-0 p-x-0 col-xs-12 col-sm-6 col-md-12 flex-align-justify-center\" data-auth-component=\"\" id=\"auth-screen-form\">\n<div class=\"identity-screen-form--active w-full flex-align-justify-center\">\n<div class=\"identity-screen-form identity-screen__content w-full\">\n<h2 class=\"blocker-title\">Sign In or Create an Account<\/h2>\n<p><span class=\"identity-divider__line\"\/><span class=\"identity-divider__text\">or<\/span><span class=\"identity-divider__line\"\/><\/p>\n<\/div>\n<\/div>\n<\/div>\n<footer class=\"identity-footer identity-screen__content m-x-0 p-x-0 col-sm-6 col-md-12\"\/><\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>The Canadian dollar fell as low as 70.89 cents U.S., lingering below 71 cents U.S. for most of the afternoon on Friday.<\/p>\n<p>\u201cThe biggest catalyst this year to the weaker dollar is the divergence in monetary policy,\u201d said Earl Davis, head of fixed income and money markets at BMO Global Asset Management.<\/p>\n<p data-async=\"\">While the Fed decides whether to hold off on another interest rate cut this year, the markets are weighing whether the Bank of Canada will cut rates by 25 or 50 basis points when policymakers next meet on Dec. 11.<\/p>\n<p data-async=\"\">The Bank of Canada has so far cut rates four consecutive times lowering rates from a hiking cycle high of five per cent to 3.75 per cent. The Fed has only cut rates twice this year, an initial jumbo cut of 50 basis points and a follow-up trim of 25 basis points. The upper bound for the Fed rate is 4.75 per cent.<\/p>\n<p>A hundred basis point difference makes the U.S. dollar that much more attractive to investors.<\/p>\n<p>\u201cThe natural tendency is \u2026 you put (money) in the country that has the higher interest rate because you are going to earn a higher return on that,\u201d Davis said.<\/p>\n<p>Interest rates aside, Davis said there are \u201cfundamental reasons\u201d behind the Canadian dollar\u2019s nosedive. (Since the end of September, it is down 4.7 per cent.)<\/p>\n<\/section>\n<div class=\"js-widget-content article-content__widget-group article-content__widget-group--content-slot20 article-content__widget-group--newsletter-slot\">\n<section class=\"newsletter-widget__new-story-page fp-headlinenews background--primary-light-gradient\" aria-labelledby=\"FinancialPostTopStories870253095375038723392917150367744\" data-account-id=\"b9d3df2fccd108b5eff3c44f573b2cd6\" data-aqa=\"widget-newsletter\" data-newsletter=\"single\" data-newsletter-component=\"\" data-target-list=\"FP_HeadlineNews\" data-widget=\"newsletter\">\n<div class=\"newsletter-new-story-page-template\">\n<div class=\"newsletter-widget__header__new-story-page\">\n<div class=\"newsletter-widget__banner__new-story-page\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 75w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 100w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 150w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 240w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 320w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 500w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 640w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 800w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 1024w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 1280w, https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg 1600w\" alt=\"Top Stories\" loading=\"lazy\" fifu-data-src=\"https:\/\/dcs-static.gprod.postmedia.digital\/17.4.2\/websites\/images\/newsletters\/icon-fp-topStories.svg\"\/><\/div>\n<div>\n<p>Top Stories<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">Get the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n<div class=\"newsletter-widget__body__new-story-page\">\n<div class=\"js-replace-main__new-story-page\">\n<p class=\"newsletter-widget__disclaimer__new-story-page text-size--tiny\">By signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n<div class=\"js-submit-success\" hidden=\"\" id=\"submitSuccessFP_HeadlineNews\">\n<p>Thanks for signing up!<\/p>\n<p class=\"newsletter-widget__text__new-story-page\">A welcome email is on its way. If you don&#8217;t see it, please check your junk folder.<\/p>\n<p class=\"newsletter-widget__text__new-story-page newsletter__feedback--last\">The next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\n<p class=\"newsletter-widget__text__new-story-page js-submit-error\" style=\"margin-top: 8px\" hidden=\"\" id=\"submitErrorFP_HeadlineNews\">We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_3\">\n<section aria-describedby=\"advertisment6030084665886435022998447042068480\" class=\"ad\">\n<p>Advertisement 3<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-3\">\n<div class=\"ad__inner__container\" data-ad=\"[[7,7],[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-interscroller=\"7x7\" data-ad-loc=\"3\" data-ad-mobile=\"[[7,7],[300,250],[320,50],[300,50]]\" data-aqa=\"advertisement\" id=\"ad-3\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<blockquote>\n<p>There&#8217;s a born-in-Canada reason why we are having a weaker economy<\/p>\n<p>Earl Davis<\/p>\n<\/blockquote>\n<p data-async=\"\">Among those fundamentals is housing. In Canada, homeowners will be renewing their mortgages at higher rates this year and over the next two years.<\/p>\n<p data-async=\"\">\u201cWhen mortgage payments go up that\u2019s (money) you can\u2019t spend for food, for restaurants, for goods, for services,\u201d Davis said. \u201cYour GDP goes down because there is less consumer spending. The U.S. doesn\u2019t have this impact,\u201d he said, noting that the U.S. has 30-year mortgages, as opposed to five-year contracts in Canada, meaning homeowners there are locked in at hyper-low pandemic rates.<\/p>\n<p>\u201cThere\u2019s a born-in-Canada reason why we are having a weaker economy,\u201d Davis said.<\/p>\n<p data-async=\"\">He also thinks U.S. president-elect Donald Trump\u2018s \u201cnationalistic policies\u201d on lower regulation, taxes and tariffs are already drawing investment to the U.S.<\/p>\n<p>For evidence, Davis pointed to the U.S. dollar index, which measures the greenback against a basket of major currencies including the Canadian dollar.<\/p>\n<p>The index has been on a tear since the end of September when Trump\u2019s polling numbers started to improve. It\u2019s currently up six per cent since then and Davis thinks it will continue to climb to the highs of the fall of 2022.<\/p>\n<\/section>\n<div class=\"ad__section-border article-content__ad-group ad_counter_4\">\n<section aria-describedby=\"advertisment400866085436941636381590308257792\" class=\"ad\">\n<p>Advertisement 4<\/p>\n<div class=\"ad__container\">\n<div class=\"ad__inner\" id=\"ad__inner-4\">\n<div class=\"ad__inner__container\" data-ad=\"[[1200,250],[1200,90],[970,90],[970,250],[728,90],[300,250]]\" data-ad-loc=\"4\" data-ad-mobile=\"[[320,50],[300,50],[300,250]]\" data-aqa=\"advertisement\" id=\"ad-4\" style=\"--desktopHeight:250px;--mobileHeight:250px\">\n<div aria-hidden=\"true\" class=\"ad__placeholder\">\n<p>This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<p>\u201cBecause it\u2019s a policy change I suspect the dollar is going to gain more and more strength.\u201d<\/p>\n<p>Looking ahead to a weaker Canadian dollar, Davis doesn\u2019t think it\u2019s necessarily a bad thing, suggesting a lower loonie could benefit Canadian business as goods become cheaper for their U.S. counterparts.<\/p>\n<p data-async=\"\">On the flip side, there exists the chance of inflation for the Canadian consumer as U.S. goods become more costly.<\/p>\n<p>But Davis thinks there is room for inflation to fluctuate given that it grew at a rate of 1.6 per cent year over year in October and the Bank of Canada\u2019s target range is one per cent to three per cent.<\/p>\n<section aria-labelledby=\"moreTopicLabel2801966065058719326634568669200384\" class=\"more-topic\" data-aqa=\"embed-more-topic\" data-carousel-component=\"\" data-carousel-icon-button=\"\" data-carousel-type=\"list\">\n<p>Recommended from Editorial<\/p>\n<p><button aria-hidden=\"true\" 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https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=96&strip=all&quality=5&sig=E0gKSE0ToykPd-LeijmcFg&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=96&strip=all&quality=5&sig=E0gKSE0ToykPd-LeijmcFg&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=96&strip=all&quality=5&sig=E0gKSE0ToykPd-LeijmcFg&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=96&strip=all&quality=5&sig=E0gKSE0ToykPd-LeijmcFg&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=96&strip=all&quality=5&sig=E0gKSE0ToykPd-LeijmcFg&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=96&strip=all&quality=5&sig=E0gKSE0ToykPd-LeijmcFg&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"Loonies with the effigy of King Charles are struck at an event at the Royal Canadian Mint in Winnipeg on Nov. 14, 2023. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=96&strip=all&quality=80&sig=wHVbuTED6bLVy-_ptsfvyA\" fifu-data-src=\"https:\/\/i3.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=96&strip=all&quality=5&sig=E0gKSE0ToykPd-LeijmcFg&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=96&strip=all&quality=80&sig=wHVbuTED6bLVy-_ptsfvyA, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=192&strip=all&quality=80&sig=6jubpZJNe9BfKrIXUDQzmw 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/1114-bc-loonie2-.jpg?h=288&strip=all&quality=80&sig=7VVYnfpfVZFg889mf1CmUQ 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canadian dollar hits four-year low as 71 cent U.S. threshold nears<\/span><\/p>\n<\/li>\n<li data-evt-val=\"{\" control_fields=\"\" dollar=\"\" will=\"\" be=\"\" stuck=\"\" in=\"\" the=\"\" dumps=\"\" until=\"\" data-carousel-item=\"\" data-evt=\"click\" data-evt-typ=\"click\"> <picture class=\"more-topic__item-image\"><img decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/ywAAAAAAQABAAACAUwAOw==\" fifu-lazy=\"1\" fifu-data-sizes=\"auto\" fifu-data-srcset=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=75&resize=75&ssl=1 75w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=100&resize=100&ssl=1 100w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=150&resize=150&ssl=1 150w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=240&resize=240&ssl=1 240w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=320&resize=320&ssl=1 320w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=500&resize=500&ssl=1 500w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=640&resize=640&ssl=1 640w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=800&resize=800&ssl=1 800w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=1024&resize=1024&ssl=1 1024w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=1280&resize=1280&ssl=1 1280w, https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1&w=1600&resize=1600&ssl=1 1600w\" alt=\"The Canadian dollar should stay in the 70 US cents range until mid-2025, says strategist. \" data-src=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=80&sig=KulcCSPt6YAUSHKzBzMm0w\" fifu-data-src=\"https:\/\/i2.wp.com\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=5&sig=oQQfU9HevQjOhn5RIRMjiw&ssl=1\" srcset=\"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=96&strip=all&quality=80&sig=KulcCSPt6YAUSHKzBzMm0w, https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=192&strip=all&quality=80&sig=jz84VeniVQ5XBwzAK5maAQ 2x,\n                                             https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/canadian-dollar-1113-ph.jpg?h=288&strip=all&quality=80&sig=NDuWDM8x_hM2JglCfvpP1A 3x\" class=\"lazyload\" height=\"96\" loading=\"lazy\" width=\"96\"\/><\/picture>\n<p><span class=\"more-topic__item-text-clamp\">Canadian dollar will be stuck in the dumps until 2025<\/span><\/p>\n<\/li>\n<\/ol>\n<p><button aria-hidden=\"true\" class=\"more-topic__button-next\" data-carousel-next=\"\" tabindex=\"-1\" title=\"next\" type=\"button\"\/><\/section>\n<p>\u201cThis gives the Bank of Canada comfort to say yes we may import some inflation here, but that brings us up to two per cent. We are at target,\u201d he said. \u201cAll in all, we are in a good position to continue with lower interest rates for Canada and Canadians, which will have both positive and negative implications, but much more positive implications.\u201d<\/p>\n<p>Those include include boosting exports, adding employment and tax revenue, and expanding GDP.<\/p>\n<p data-async=\"\"><em>\u2022 Email: gmvsuhanic@postmedia.com <\/em><\/p>\n<p data-async=\"\"><em><strong>Bookmark our website and support our journalism:<\/strong> Don\u2019t miss the business news you need to know \u2014 add financialpost.com to your bookmarks and sign up for our newsletters here.<\/em><\/p>\n<\/section>\n<section class=\"article-content__content-group article-content__content-group--story\">\n<p>Article content<\/p>\n<\/section>\n<section class=\"article-content__share-group article-delimiter\" data-evt-val=\"{\" control_fields=\"\" data-evt-typ=\"page_scroll\">\n<p>Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\n<br \/>Sub-70 cent Canadian dollar inching closer into view<\/a><br \/>\n<br \/>2024-11-15 20:19:30<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Breadcrumb Trail Links News Economy Canadian dollar sank below 71 cents U.S. for the first time since mid-2020 Published Nov 15, 2024 \u00a0\u2022\u00a0 Last updated 2\u00a0hours ago \u00a0\u2022\u00a0 3 minute&#8230;<\/p>\n","protected":false},"author":2,"featured_media":52876,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/smartcdn.gprod.postmedia.digital\/financialpost\/wp-content\/uploads\/2024\/11\/no1115loonie.jpg?quality=90&strip=all&w=288&h=216&sig=AT2JpAesy5TBjoF_7C5yDw","fifu_image_alt":"","footnotes":""},"categories":[31],"tags":[],"class_list":["post-52875","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/52875","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=52875"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/52875\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/52876"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=52875"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=52875"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=52875"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}