With the Bank of Canada set to make another interest rate announcement on Wednesday, one strategist says investors are considering what another cut could mean for the strength of the Canadian dollar.
Thierry Wizman, global FX and rates strategist at Macquarie Group, joins BNN Bloomberg to discuss the impact of oil price on Canadian dollar.
“One thing that attracts investors in the currencies is the rate of interest that is received on that currency,” Wizman told BNN Bloomberg on Tuesday. He added that if the optics are that the Bank of Canada is going to be reducing interest rates more than the central banks of other countries, it could cause the loonie to “fall into disfavour.”
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