AS: Canadian dollar faces 'considerable' risks stemming from a less-hawkish Bank of Canada
"Should the phrase relating to the withdrawal of stimulus be removed, we would expect an initial spike higher in USD/CAD" - Bank of America Merrill Lynch Global Research.
The Canadian dollar (Currency:CAD) is holding onto last weekâs gains but the Bank of Canada (BoC) meets tomorrow, and according to a number of analysts this presents some risk for the CAD.
Ahead of the event we see the pound to Canadian dollar exchange rate is 0.42 pct higher than at Friday's close at 1.5865.
The US dollar to Canadian dollar is 0.22 pct up at 1.0162.
The Australian dollar to Canadian dollar is 0.21 pct higher at 1.0387.
