• The US$ strengthened on the Fed’s perceived hawkish statement, and should gain further ground to eclipse year-to-date peaks on Fed tapering in Q4.
• Slower growth in China makes us less constructive on commodity currencies. We now see the Canadian and Aussie dollars weaker than US$ parity throughout 2014. Given Australia’s closer links to China, we continue to prefer the C$ over the A$.
Read the full report: Market Research
CIBC