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2025-09-12 23:26:25
[ING: The Canadian dollar should continue to underperform non-US dollar currencies in the G-10] ING analysts said in a report that the Canadian dollar should continue to underperform non-US dollar currencies in the G-10 as the Bank of Canada seems to be about to restart interest rate cuts. They said that the Bank of Canada may cut interest rates by 25 basis points on September 17 and another 25 basis points in the fourth quarter. The Bank of Canada has kept interest rates unchanged at the previous three meetings. The market expects the Canadian dollar to cut interest rates by about 40 basis points before the end of the year. "We predict that the USD/CAD will only fall very slowly, which is entirely due to the weakening of the US dollar as the Canadian dollar remains unattractive relative to most G-10 currencies." The USD/CAD rose 0.2% to 1.3858 Canadian dollars, and ING's target is 1.37 Canadian dollars by the end of the year.
